Dehradun fraudsters cheat 16 banks of crores to buy luxury cars

A gang of fraudsters operating in Dehradun have engineered in what could be the biggest auto loan fraud in Uttarakhand. The activities cover 16 branches of 11 leading banks and the amount is in the region of several crores of rupees.
This has been reported in timesofindia.indiatimes.com dated 23 September 2015.

The money was used to buy 400 cars, including SUVs and luxury ones and the loans were obtained by submitting forged documents. Investigators feel that there are highly-educated and white-collar people involved in this fraud apart from bank staff.
The Special Task Force STF claims to have cracked the case with the arrest of three persons and are trying to assess the magnitude of the fraud. Those arrested have revealed that there are about 12 members in the gang and they had duped the banks of nearly Rs 12-15 crore to purchase 375-400 cars.
The documents furnished to the bank by the gang members to get loans were fake. In fact, they had submitted vehicles papers of a scooter for the purchase of SUVs and luxury cars.
(Image courtesy wikimediacommons.org)

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