12 Arrested in Mumbai for Running Credit Card and Home Loan Fraud Syndicate

Mumbai:  In a significant development, the Mumbai police have apprehended 12 individuals, including two women, belonging to a fraudulent gang operating in the city. This syndicate was involved in deceiving people by using counterfeit documents to secure credit cards and home loans from various banks and financial institutions, as confirmed by an official statement on Monday.

The investigation revealed that the gang members had unlawfully procured a minimum of 200 credit cards by utilizing the personal documents of unsuspecting individuals who had approached them for assistance.

According to an official source, these accused individuals collected approximately Rs 4.50 lakh from the complainant under the pretense of facilitating the credit card and home loan application process but failed to fulfill their commitment.

Following the complaint, the police registered an FIR (first information report) at the Agripada Police Station against the culprits. As the investigation proceeded, it uncovered a larger operation centered on duping people by falsely promising them access to credit cards and home loans.

The gang had leased a shop and a residential flat, which they used as the applicants' addresses for loan and credit card applications. They also obtained SIM cards using the applicants' information as a means of contact during the verification process.

The arrested women would pose as employees of the applicants seeking loans or credit cards and would provide information to bank staff during verification visits.

After successfully receiving credit cards at the designated addresses, the accused individuals would utilize these cards to make transactions amounting to lakhs of rupees.

Notably, three of the arrested suspects, namely Pradeep Mourya, Bhavesh Shirsat, and a 29-year-old woman, have prior cases of fraud registered against them in Mumbai and nearby Navi Mumbai police stations.

The accused individuals have been presented before a court, which has ordered their police custody until Tuesday. The investigation is ongoing as the authorities work to unveil further details about the fraudulent scheme.