Mizoram: Car loan fraud worth Rs 150 cr busted, 11 arrested
First Published: 26th April, 2024 21:03 IST
Jakir Hussain, who was an Area Manager of Mahindra & Mahindra Financial Services Ltd. was the mastermind and had hatched the conspiracy along with his associates.
The Mizoram Police have arrested as many as 11 individuals involved in what has been termed as the biggest scam in Mizoram and potentially in the entire Northeast.
This was informed by DGP of Mizoram, Anil Shukla at a Press Conference in Aizawl today.
According to the Mizoram top cop the gang had orchestrated a fraud amounting to approximately Rs 150 crores, and sanctioned vehicle loans by creating fake files for over 2,000 ghost customers.
The arrested individuals have been identified as Jakir Hussain, Lalthankima, Edenthara, Manoj Sunar, Rintu, Kajal Das, C. Lalawmpuia, Yogesh Sarda, Lalrinunga Ralte, Lalchhandama and Praloy Das.
The Police have frozen 26 bank accounts amounting to Rs 2.5 crores. They have also seized electronic gadgets and other documents from their possession. 15 cars worth over Rs 3 crores have been recovered from various locations.
Speaking on the matter, the DGP stated that Jakir Hussain, who was an Area Manager of Mahindra & Mahindra Financial Services Ltd. was the mastermind and had hatched the conspiracy along with his associates.
The scam came to light after an FIR was lodged at Aizawl police Station on March 20, 2024 by Circle Head of Mahindra & Mahindra Financial Services Ltd.
Subsequently, on March 29, a raid was conducted at the residence of Jakir Hussain, and he was arrested after sustained interrogation. Hussain’s interrogation led to the arrest of other accused involved in the scam.
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