UP Crime News: Azamgarh city police station has busted a gang involved in providing fake loans. The police took action near Ainiya temple on Tuesday and arrested four members. The gang’s network is spread at the inter-provincial level. The scope of the gold loan case extends to five banks, seven bank branches and four districts of UP and Delhi. Police investigation has so far revealed a scam worth Rs 19 lakh 45 thousand. Police have recovered 9 jewelery chains and 8 bracelets from the possession of the accused. Disclosing the incident, Assistant Superintendent of Police Shubham Aggarwal said that cases were registered in different police stations. The police was investigating after one case of fraud was registered in Mubarakpur, one in city Kotwali and two in Kandharapur police station. He told that the loan was taken fraudulently. Employees of seven bank branches are suspected to be complicit in the fraud.
Fake loan gang busted
The method of the gang that got loans approved fraudulently was completely unique. Accounts of poor and less educated people were opened in exchange for gold. He used to fraudulently withdraw the amount of gold from the loan received in the account. Employees are also under suspicion if fake gold is approved by the bank. Gold was purchased from Sunil Kumar Verma of Ballia. The gang used to target innocent villagers. The arrested gang members have been identified. All four members of the gang are residents of Basti and Ballia. Rajaram Tiwari, Vijay Pratap Verma and Ramesh Kumar Verma are residents of Basti and Sunil Kumar Verma is a resident of Ballia.
Police succeeded in arresting 4 members
The money received in loan was misappropriated. The accused used to keep some money for themselves after giving it to the account holders. Shubham Aggarwal said that the role of bank branches is also being examined. What were the rules for sanctioning loans, how did the gang get the loans, how did the criminals carry out the irregularities. The police is investigating the case keeping all the aspects in mind. CO Sadar said that two people Manish Singh and Rajan Singh have already been arrested from Azamgarh in the case. Both the arrested accused are residents of Azamgarh.