The Hindu : New Delhi News : Two arrested on cheating charge

Online edition of India's National Newspaper
Tuesday, Jul 06, 2004

New Delhi

New Delhi

Two arrested on cheating charge

By Our Staff Reporter

NEW DELHI, JULY 5. Two persons who allegedly cheated at least 40 people of Rs. 2.45 crores on the pretext of providing them loans without guarantors and sureties have been arrested by the Economic Offences Wing (EOW) of the Crime Branch.

Ajay Verma, a resident of Dehra Dun, lodged a complaint with the EOW alleging that he was cheated by Rajesh Singh and his accomplice Kuldeep Singh. Last year, Ajay came across an advertisement in a vernacular daily offering loan. The advertisement also had the contact number of the "finance firm". He called up the person concerned and was asked to come to the office of Active Consultant at Rohini.

Ajay went there and met the company owners, who introduced themselves as Rajesh and Kuldeep. Claiming that their company received funds from Non-Resident Indians (NRIs), the duo assured him to arrange a loan of Rs. 8-10 lakh on the basis of his property papers. They asked Ajay to fill up an application form and submit his property documents. The accused charged Rs. 3,300 as processing fee and even surveyed Ajay's property in Dehra Dun. In October last, Ajay received a letter of approval of loan for Rs. 7 lakh and was asked to send a draft worth Rs. 13,500 purportedly for legal advice. However, Ajay did not get the loan amount. Acting on Ajay's complaint police mounted a raid and arrested the duo.

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