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Mumbai News: 4 use forged papers to buy bikes across state, booked

Mumbai: Four persons had been booked in an automobile loan fraud committed in six locations of the state. An investigation into a local case led the cops to the accused. They were handed over to the Dahisar police.

The accused may have had a contact at a financial services company, said the police. The source would help them procure Aadhaar and PAN copies of people with good credit scores. They would scan the documents online and replace the individual’s photo with one of the their own to seek bank loans. One of them would then go to a showroom to buy a two-wheeler on EMI.

With a down payment of just Rs 15,000-Rs 20,000, the gang would collect a new bike and leave. When no more EMIs were paid, the bank would check only to find that individual named in the papers was not the applicant.

The gang stole at least two dozen vehicles in this manner and sold them off elsewhere. tnn