NRI settled in New Zealand arrested in loan fraud case
1 year, 8 months ago

NRI settled in New Zealand arrested in loan fraud case

Hindustan Times  

MUMBAI: A 41-year-old man was arrested by the Economic Offences Wing for his role in a car loan fraud case. The police said the accused had settled in New Zealand and he was arrested when he returned for his mother’s funeral. The police said in 2013, the State Bank of Bikaner and Jaipur, which has since merged into the State Bank of India, had lodged a complaint with the police after discovering 16 car loan accounts had never paid any Equated Monthly Instalments. The present accused, who is the 21st to be arrested in the case, had in 2011 taken a loan of ₹10 lakhs for purchasing a Toyota Innova car and submitted a fake Registration Certificate to the bank which later turned out to be the number of a Maruti Suzuki Swift car.

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