Follow Us:
Tuesday, February 18, 2020

Loan fraud: One arrested from Vasant Vihar

A man,accused of cheating many people on the pretext of providing bank loans at low interest rates,was arrested from Vasant Vihar on Tuesday.

Written by Express News Service | New Delhi | Published: June 14, 2012 12:50:30 am

A man,accused of cheating many people on the pretext of providing bank loans at low interest rates,was arrested from Vasant Vihar on Tuesday.

Police said the accused,identified as Vishal Shera,was arrested from a restaurant in Vasant Vihar after he was spotted by one of the complainants,Rajpal Singh.

Singh had met Shera at a showroom in South Delhi,where the accused had promised to arrange loans on low interest rates. “Singh had given him a cash payment of Rs 23,000,along with some blank cheques. Later,he came to know that Shera did not work at that showroom. Shera disappeared after taking the money,” a police official said.

On Tuesday,Singh spotted the accused and informed the police. After his arrest,police said,Shera confessed that he had suffered heavy financial losses,after which he started defrauding people.

“In August 2011,he was arrested for giving forged cheques against gold worth Rs 1.26 lakh. After being released from jail,he started tracking people who wanted vehicle loans. He would approach his victims posing as a showroom employee,” the official said.

“After gaining the victim’s confidence,he used to take around Rs 10,000-15,000 as processing fee. Then,he would go into hiding.”

📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines

For all the latest Delhi News, download Indian Express App.

Advertisement
Advertisement
Advertisement
Advertisement