Five frauds arrested cheating over 100 with fake credit cards

Central Chronicle News
Raipur, Oct 10: Telibandha police on Saturday busted a Credit Card fraud gang and arrested a total of five of them for allegedly duping over 100 victims.
Acting on the complainant Mohan Rao of Shakti Nagar, police arrested three directors of the fake firm named M/s. Helping Forever Pvt Lrd having their office at New Rajendra Nagar. Identified as Nikhil Kosle, Shiva Sahu and Shailndra Mishra, these three were the director of the firm and the other two Nabeel Khan and Jagmohan were the Sakes Executives Axis Bank. These frauds had been duping victims on pretext of providing them Credit Cards with loan facility. The frauds were proving fake Income Tax Reports (ITR) to the bank with reports being made from some CA which initially did not suspected the bank officials.
However when customer arrived at the bank seeking for further details of the issued Credit Cards despite loans being issued in their name.
Police investigation led to the busting of this fraud wherein the frauds had been charging 25% of the provided loan amount apart from Rs 25000 as processing charges. Once the Credit Cards were issued, fraud Shiva Sahu used to siphon loan using his swipe machines issued in the name of his fake firms Vidya Traders and Shiv Trading.
Police have also since seized from them 46 nos. of Credit /Debit cards and signed cheques of 140 victims apart from several other electronic gadgets. Police later booked all five of them Section 409, 406 120B and 420 IPC and is now investigating the matter further. Police is also trying to trace the unidentified CA who had helped them in preparing fake ITR.

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