In a major crackdown on financial fraud, Delhi Police have dismantled a notorious gang involved in vehicle loan scams. Three key members were arrested, and five luxury vehicles were recovered from their possession. The operation unfolded after months of undercover surveillance and intelligence gathering in the capital’s bustling auto finance sector.
The gang targeted gullible customers seeking vehicle loans from major banks and NBFCs. Posing as legitimate financiers, they promised quick approvals and low-interest rates. Victims handed over their documents and down payments, only to discover the loans were never processed. The fraudsters vanished with crores in ill-gotten gains, leaving hundreds of families in financial ruin.
Led by the Crime Branch, the investigation revealed a sophisticated network operating across Delhi-NCR. The accused had forged documents, created fake identities, and even set up sham companies to dupe lenders. ‘This gang siphoned off over ₹50 crore in the last two years,’ a senior officer revealed, adding that raids continue to uncover more evidence.
The breakthrough came from a tip-off about suspicious activities in West Delhi’s automobile hubs. Acting swiftly, police teams raided multiple locations, apprehending the trio red-handed with incriminating ledgers and seized vehicles worth ₹2 crore. Among the recoveries were high-end sedans and SUVs bought with fraudulent loans.
Authorities have registered cases under relevant sections of the IPC and IT Act. Further arrests are expected as the probe widens to interstate connections. This bust serves as a stern warning to fraudsters exploiting the growing demand for vehicle financing amid India’s booming auto market. Victims are urged to come forward, promising swift justice and restitution efforts.