Finance company duping people on the name of loans busted,4 accused arrested.

Five people were arrested for running an inter-state racket and duping people of lakhs of rupees on the name of providing them loans on low intrest rates,the racket operates out of an office the name of Riddhi Siddhi pvt ltd located at sector.11 of Hiran Magri area under Surajpol police station circle.
Those who were arrested were identified as Ishan Pandya, Bhaskar Jena,Mohammed Abbas,Ayub and Ramesh,all were booked under several sections of IPS and are still under interrogation.While few of those aides are still on run and their hunt is on,said Sp Kailash Chandra Bishnoi.
The investigation of the matter revealed that the gang of accused has duped tens of people of lakhs of rupees at Maharastra,West Bengal,Andhra Pradesh and Gujarat on the pretext of providing loan through their company Riddhi Siddhi pvt ltd Bishnoi added.
On 24th May Jagdish Bhai Kavtiya (Patel)  a businessman who lives in Patel Colony Golden City Rajkot,lodged a complaint with Savina Police alleging that he was been lured by the gang on the name of providing loan, he in his complaint mentioned that he runs an oil manufacturing company at Rajkot and was in a need of Rs.2.5 crores for expention of his business, following that he contact the management of the Riddhi Siddhi company, promosing senction of loan amount the company’s representatives forced him to deposit Rs.15000 as processing fee,Rs.5 lacs as security charges and Rs.462500 as clearing charge prior to senction of loan, following the instructions of the company’s staff the victim has deposited the said amount in the bank account of the finance company.
But despite deposting the demanded amount and even after multiple reminders no loan was senctioned and the company representative switched off their phones.
Based upon victim’s complaint the police registered a case and nabbed 5 out of the 7 accused from nearby areas of Udaipur, they were later produced in local court on which remanded them under police custody till 29th May,Bishnoi said.
During the initial interrogation the accused confessed they have duped various people at different states of the county of Lakhs of rupees.

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