Two held in Delhi for duping businessman of Rs 2.15 lakh in loan scam

Two men have been arrested for allegedly duping a dairy businessman of over Rs 2.15 lakh by posing as representatives of a finance company and offering him a loan in northeast Delhi, police said on Saturday.

Police said the complainant, Waseem (30), who runs a dairy business in Ghaziabad, received a call on February 25 from a man introducing himself as an executive of a reputed finance firm.

The caller assured him of a loan but insisted that purchasing an insurance policy was mandatory for approval.

“Believing him, Waseem transferred Rs 2,15,681 into multiple bank accounts towards policy fees, bank charges, and loan processing costs. He was issued fake insurance policies in the name of reputed firms,” a senior police officer said.

When the loan was never disbursed and the fraudsters switched off their phones, Waseem approached the police, and a case was registered under the Bharatiya Nyaya Sanhita (BNS), he added.

Following a raid on Friday, police arrested Ravi (27) and Pritam Singh, both residents of Uttam Nagar, and recovered two mobile phones used in the commission of the crime.

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During interrogation, the accused disclosed that they used to work at a reputed insurance company’s call centre, where they found out about loan and insurance procedures. They allegedly confessed to using this expertise to cheat people and admitted to sharing the money among themselves, officials said.

Police said their possible involvement in other cases is being probed.