Delhi Police arrests two fake loan agents for cheating man of Rs 15 lakh

Two men were arrested for allegedly cheating a person of Rs 15 lakh by posing as Direct Selling Agents (DSAs) of private banks and offering him a loan at a low interest rate, officials said on Monday.

Police said Rs 6.95 lakh in cash was recovered from them — 1,390 currency notes of Rs 500 denomination.

Adeeb Khan, 36, allegedly the mastermind, and Aneesh Ali, who allegedly provided a mule bank account and helped withdraw the cheated money, were arrested they said.

A complaint was received from a resident of Delhi’s Shahdara, who was seeking an overdraft or loan facility. He allegedly came in contact with Khan, who posed as a DSA of private banks and offered to arrange the facility at a low interest rate, police said.

The complainant, trusting Khan, allegedly sent three cheques, including a blank signed cheque of Rs 15 lakh, through a delivery service to Kaushambi without meeting him in person.

The cheque was allegedly misused and the amount was deposited into a private bank account used as a mule account. The entire Rs 15 lakh was subsequently withdrawn through two cheques, police said.

During the investigation, the team conducted technical and financial analysis of the mule account, mobile number, IMEI and IMSI details, call detail records, IP detail records, chats and the transaction and withdrawal trail.

The analysis of banking and technical evidence helped police identify the accused. Following continuous technical surveillance and field investigation, Khan and Ali were traced and apprehended on September 25, police said.

Police said Khan had earlier worked as a DSA for various private banks and was working as a third-party DSA on commission with a private bank.

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Taking advantage of his previous experience, professional contacts and access to customer information, Khan allegedly identified people looking for loans or overdraft facilities. He contacted them through messaging application, posed as a genuine DSA and offered financial facilities at attractive interest rates, police said.

After gaining the confidence of victims, he allegedly obtained cheques and documents on the pretext of processing loans or overdraft facilities and subsequently misused them.

According to police, the Rs 15 lakh allegedly cheated in the present case was shared as Rs 9 lakh by Khan, Rs 3 lakh by Ali and Rs 3 lakh by their absconding associate Rajendra.

Police are making efforts to arrest Rajendra, recover the remaining amount, trace the complete money trail and identify other mule accounts and associates. They are also probing whether other people were cheated using the same modus operandi.