In a significant crackdown, the Uttar Pradesh Special Task Force (STF) has dismantled a sophisticated interstate racket accused of swindling banks of more than Rs 100 crore. The elaborate scam was executed using a network of shell companies, fabricated property documents, and forged identities.
Coordinated Raid Leads to Multiple Arrests
The STF conducted a coordinated operation in the Surajpur area of Noida on Thursday, leading to the arrest of eight individuals believed to be part of the syndicate. The arrested include the alleged mastermind, Ram Kumar, who holds an MBA and previously worked as a loan executive with two private banks.
The other apprehended members are Nitin Jain from Delhi, Mohd Wasi (a company secretary and MBA from Jharkhand), Shamshad Alam from Bihar, Indra Kumar Karmakar of Gurugram, Anuj Yadav from Ghaziabad, Tahir Hussain of Sambhal, and Ashok alias Deepak Jain from Delhi.
Massive Haul of Forged Evidence Recovered
During the raids, the STF seized a vast trove of evidence that laid bare the gang's operations. The recovered items include:
- 45 forged Aadhaar cards
- 27 PAN cards
- 170 ATM cards
- 126 cheque books and passbooks
- 5 voter ID cards
Additionally, the police confiscated three laptops, twenty-six mobile phones, and three SUVs. Investigators have so far identified over 220 bank accounts linked to the criminal network.
Modus Operandi: Fake Profiles and Shell Companies
According to Amitabh Yash, ADG (Law and Order), the probe was initiated after a private bank official filed a complaint regarding suspicious high-value loan applications. The investigation, supervised by ASP Raj Kumar Mishra, led the Noida unit to the gang's hideout.
Yash explained the gang's method: "Kingpin Ram Kumar revealed that the syndicate created fake borrower profiles using forged Aadhaar and PAN cards. They opened bank accounts in these names and projected them as salaried employees of two shell firms. These fabricated employees were then shown as eligible for home loans, which were sanctioned based on completely fake property papers."
The fraudsters did not stop there. They brazenly exploited the identities of Non-Resident Indians (NRIs) and even deceased individuals. In one shocking instance, a property in Delhi owned by a deceased woman was fraudulently transferred using an impersonator. This illegal transfer facilitated a loan of Rs 4.8 crore.
Wide-Ranging Fraud Across Multiple Cities
The investigation has uncovered evidence of similar fraudulent property purchases and loan scams in several major cities. The gang's activities have left a trail in Noida, Lucknow, Varanasi, Haridwar, Delhi, Gurugram, and Chandigarh.
This major bust highlights the ongoing challenges financial institutions face from organized crime groups employing complex, paper-based frauds. The STF's operation is expected to lead to further revelations as the analysis of seized digital devices and documents continues.
