Tamil Nadu - Chennai   

Three-member gang arrested

Staff Reporter

Three-member gang that helped 200 people obtain loans fraudulently busted

CHENNAI: The Peravallur police on Tuesday arrested a three-member gang, which issued fake salary slips of leading companies to get loans for over 200 persons.

The arrested were identified as Kamalakannan (30) of Tiruvottiyur, who earlier worked as an associate in a private bank, Vinodh Kumar (32) of Royapuram and Rajesh (25) of the Integral Coach Factory (ICF).

C. Sylendra Babu, Joint Commissioner of Police, North, said the gang made duplicate salary slips of leading companies such as RAMCO Systems, Royal Enfield and a few other companies, which were issued to individuals to obtain loans to buy two-wheelers.

The gang had issued fake salary slips to over 200 persons who used them to loans from private banks of Rs. 50,000 each. After taking the loan, many of them turned defaulters. The gang received a commission of Rs 5,000 each from the 200 people. When the borrowers did not repay on time, the bank authorities grew suspicious and started verifying the documents submitted by the defaulters. While checking the salary slips given by the defaulters, the bank authorities came to know that the slips were not genuine. They lodged a complaint with the Peravallur police. Investigation by the police resulted in the arrest, Mr Babu said.

Cases have been filed under sections 419 (cheating by personation) and 420 (cheating).

They arrested have been remanded to custody, he added.

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