The Electronics City police on Monday arrested a five-member gang allegedly for cheating several businessmen in the city offering huge amounts of loan and escaping with the 1% commission. This amount sums up to at least ₹1 crore.
Based on a complaint filed by Vincent, a garment businessman, a team of police tracked down the gang and arrested them from Mumbai and Madhya Pradesh.
Investigations revealed that the accused had cheated four such businessmen using similar modus operandi, but they have not filed complaint so far. “We will question them and get their statements too for further investigations,” inspector Anil Kumar who led the team said.
According to the police, the prime accused, Santosh Tiwari , is a former manager with a private bank who was terminated from service for irregularities . He used his banking experience to cheat people and pocket commission, offering them huge amount of business loans.
Tiwari used his associate Sanjay Shukla to get gullible clients using his network across the country, the police said.
The duo met VIncent offering him ₹100 crore business loan and demanded ₹1 crore commission in advance after fake paper work at a star hotel in Electronics City on January 29. The accused promised him that he would get the money to his bank account through online transaction and tried to slip, but Vincent, who got suspicious of their behaviour, did not let them go until he gets the money in his account.
The accused then called their local associates for help, who rushed to the hotel and forcibly took Tiwari and Shukla from the hotel after threatening Vincent and got ₹4 lakh in return.
“The accused are suspected to have committed similar crimes in other states and we are trying to contact the counterparts to check their criminal antecedents,” a senior police officer said.
