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  • Scammers Who Offered Easy Loan Taken, Mastermind Gets Away, 20 Cell Phones, 33 Debit Cards Seized From Gang | News Ludhiana

Scammers Who Offered Easy Loan Taken, Mastermind Gets Away, 20 Cell Phones, 33 Debit Cards Seized From Gang | News Ludhiana

By on February 1, 2022 0
Ludhiana: With the arrest of two people, the city police say they have busted a gang of scammers who duped people out of Rs 3 crore on the pretext of helping them get easy loans with lower interest rates. The kingpin of the network is on the run.
Those arrested are Ankit Kumar Kashyap from Model Town and Sunil Chopra from Janta Nagar, while the accused Gagandeep fled. Police recovered Rs 1.5 lakh in cash, in addition to 20 mobile phones and 33 debit cards. The defendants transferred Rs 8 lakh of the stolen money to their bank accounts, which the police seized.
Deputy Commissioner of Police (Investigation) Varinder Singh Brar said the police received numerous complaints from people about the fraud, after which the team launched an investigation. Cops discovered that this gang lured people in with easy loan offers, took a good amount of money as a “processing fee”, then turned off their cell phones.
DCP Brar said: ‘The accused used to post advertisements on social networking sites for group loans at lucrative interest rates. When people contacted them for a loan, they convinced them to invite more people and apply for group loans. The accused used to take money from everyone as a processing fee, and later closed the office and ran away. They would then start operating at another location under different names.
A case under sections 420 (cheating), 120-B (criminal association) of the Indian Penal Code (IPC) and section 66 of the Information Technology Act has been filed against the accused at Haibowal police station.
The police advised the local public to check their greed to avoid being tricked by the cybercons and falling for the lucrative promises of double wins and lower interest rates for loans.