Thane businessman cheated of Rs 22 lakh in fraudulent Rs 10 crore loan promise

A businessman from Thane has allegedly been defrauded of Rs 22 lakh by a fraudster who promised to secure him a loan of Rs 10 crore, police confirmed on Wednesday.

According to PTI reports, the accused approached the 50-year-old trader, a resident of Ambernath in Thane district, between March and July last year, offering assistance in obtaining a high-value loan. The police have not disclosed the nature of the trader’s business or the reason behind his need for the loan.

AS PER PTI, the fraudster convinced the victim that he had the necessary connections and expertise to facilitate the loan approval. Under the guise of processing fees, commission charges, and other procedural expenses, the accused allegedly extracted a total sum of Rs 22,07,180 from the businessman over multiple transactions.

The victim, trusting the accused’s claims, transferred the amount but later realised that the documents provided for the loan process were fraudulent. Upon further verification, it became evident that the accused had no legitimate means to secure the promised loan. When the businessman confronted him, he neither received the sanctioned loan nor was he refunded the money he had paid.

A police official stated, “The accused managed to gain the victim`s confidence by presenting false assurances and fabricated documents. Such financial fraud cases have been on the rise, and we urge citizens to verify the credibility of lenders before making any payments.”

In a similar incident of deception earlier this year, a 75-year-old man in Dombivli was allegedly duped of Rs 30,000 by an unidentified individual who made away with the cash in a public area, according to PTI reports.

The incident took place in Maharashtra`s Thane district, an official stated. As per police sources, the elderly victim had withdrawn Rs 30,000 from a local bank and was on his way home when the accused approached him.

According to the police, the fraudster told the elderly man that his shirt had gotten dirty and advised him to clean it. Unaware of the scam, the senior citizen proceeded to remove his shirt, placing his bag beside him. Taking advantage of the distraction, the accused quickly grabbed the bag and fled with the money.

A case has been registered under section 318(4) (cheating) of the Bharatiya Nyaya Sanhita (BNS). Law enforcement officials are currently reviewing CCTV footage from the area to identify and apprehend the suspect.

In an another shocking case of fraud, police in Maharashtra`s Palghar district have arrested a man who allegedly posed as a Delhi Crime Branch officer and defrauded several women under the pretext of marriage, PTI reports.

The accused, identified as 26-year-old Himanshu Yogeshbahi Panchal, was arrested on Tuesday from his hometown in Ahmedabad following an extensive investigation led by Valiv police.

According to the authorities, Panchal befriended women through a matrimonial website, pretending to be an officer from the cyber security cell of Delhi Police`s crime branch. He allegedly built trust, promised marriage, and then proceeded to exploit the victims financially and emotionally.

One of the victims, who filed the complaint leading to his arrest, alleged that Panchal took her to various hotels and lodges where he sexually assaulted her multiple times under false promises of marriage. Adding to his deception, he even gifted her a fake diamond.

(With inputs from PTI)