Gang involved in loan fraud using forged salary slips busted, 2 held

Time of India

5 hours ago

Indore: Vijay Nagar police busted a gang involved in large-scale loan fraud using forged salary slips of a reputed company and arrested two persons on Saturday.
"The accused were operating a sophisticated scam by exploiting loopholes in the banking system and presenting themselves as salaried employees of Blue Star Company to secure personal and vehicle loans worth several lakhs from multiple banks," said ACP Aditya Patle.
"The fraud came to light following a complaint from HDFC Bank, which reported suspicious documents submitted during a loan application. The documents included fake salary slips and account statements showing regular salary credits from Blue Star Company," he said.
During the investigation, it was found that the accused opened a current account in the name of Blue Star using forged GST and business registration documents under the name of an AC technician associated with the company.
They regularly transferred fixed amounts from this fake company account to their own and their associates' accounts, portraying them as monthly salaries.
The arrested accused have been identified as Ravi Kumar Pal (32), a resident of Sadarpur, Noida, and Devendra Singh (30), a resident of Aanshal Town, Meerut. Both confessed during interrogation to obtaining documents like Aadhaar and PAN cards in fabricated names.
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"Devendra, for instance, opened a private bank account in the name of a fictitious person, Dev Sharma, and used that to secure an Rs 11 lakh loan from another private bank by showing fake salary credits," he said.
"Ravi Pal used similar tactics by manipulating Aadhaar-linked mobile numbers. He convinced an acquaintance, Shailesh Ahirwar, to link his (Ravi's) number to Shailesh's Aadhaar card. Later, he used OTPs to update Shailesh's address to Indore and created a fake PAN card in Shailesh's name with his own photograph.
Using this identity, he opened a bank account, produced forged salary slips, and secured another Rs 11 lakh loan from a private bank," he said.
The accused are believed to have previously defrauded several banks of nearly Rs 50 lakh. Encouraged by past success, they attempted another loan using similar methods when HDFC's internal verification raised suspicion, prompting a police complaint.
Both accused have been produced before court and are currently in police custody for further interrogation. Investigators are now probing the extent of the scam and identifying other possible accomplices.