Pune News: Five Arrested for Duping Man of ₹89 Lakh and Two Private Banks of ₹97 Lakh

Pune News: Five Arrested for Duping Man of ₹89 Lakh and Two Private Banks of ₹97 Lakh

Pune News: Five Arrested for Duping Man of ₹89 Lakh and Two Private Banks of ₹97 Lakh

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Pune: The Hinjawadi police have arrested five individuals, including a woman, on charges of duping a Senapati Bapat Road resident of ₹89.5 lakh and two private banks of ₹97 lakh. Authorities are currently searching for seven more accomplices involved in the scam.

According to the police, the gang duped banks by creating fake salary accounts and availing loans amounting to ₹98 lakh. They also deceived a 26-year-old man by promising to return ₹1.75 crore in exchange for his ₹1 crore investment.

The alleged fraud was uncovered after the victim lodged a complaint on Friday. Sub-inspector KD Sapkal of the Hinjawadi police reported that the gang’s kingpin is a native of Bavdhan. The complainant, who runs an e-facilitation and copying center in Warje Malwadi, came into contact with the suspect, who frequently visited the shop and posed as a construction and finance business operator.

Details of Incident:

September Last Year: The suspect convinced the complainant to invest ₹1 crore in a new site, promising to return ₹1.75 crore within a month.

Investment Made: The complainant exhausted his savings and borrowed money from a friend to give ₹90 lakh to the suspect.

Partial Return: On May 9 this year, the suspect returned only ₹50,000.

The investigation revealed that the suspect and his accomplices, hailing from Parbhani and Chhatrapati Sambhajinagar districts, identified needy individuals and created fake documents to show them as employees of listed companies. They opened salary accounts and deposited fake salaries into them. The gang then obtained loans from banks using these fake salary slips.

The police are investigating the extent of the scam, including the number of fake salary accounts created and whether any bank officials were involved in the racket.

The arrests highlight the complexity and scale of the fraud, emphasizing the need for vigilance and stringent verification processes within financial institutions.