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Three arrested for duping finance company of Rs 7.06 crore
Updated On: 20 September, 2018 05:30 PM IST | Mumbai | mid-day online correspondent
From the total 457 applications, documents of 287 vehicles were bogus that led to the disclosure of the duping case
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Three people were arrested by the Economic Offences Wing (EOW) of the Mumbai police for cheating M/s Fortune Integrated Asset Finance Limited, a non-banking finance company, on Tuesday. The company was cheated to the tune of Rs 7.06 crore for procuring car loans.
The accused were identified as Tirumali Abdul Rahman Shamir (40), the owner of M/s A-Star Auto Finance agency, Mohammed Abdul Rahman Shakir (38) and Thogata Mohan Nagaraju (38). All the three accused are employees of A-Star agency.
According to an official as reported in FPJ, "Between June 2016 and November 2016, the accused had submitted 287 fake documents for procuring loans worth Rs 7.06 crore. The three accused have been arrested from Anantpur in Andhra Pradesh. In 2016, the finance agency had applied for a loan of 457 vehicles. From the total 457 applications, documents of 287 vehicles were bogus.”
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