A major fake loan racket operating in Nalanda district has been busted, leading to the arrest of two individuals involved in defrauding people using forged documents. The arrested accused have been identified as Mohammad Danish, son of Mohammad Firoz, and Mohammad Afroz, son of Mohammad Mustafa, both residents of Mogalkuan under Laheri police station area in Biharsharif. Police seized six mobile phones, one motorcycle, fake Aadhaar cards, PAN cards, various company SIM cards, and forged Bajaj Finance documents from their possession.

The gang targeted innocent individuals, luring them with promises of securing loans from various financial institutions, including Bajaj Finance, using fraudulent means. They created fake Aadhaar and PAN cards to facilitate these bogus loans. The fraudsters would collect significant amounts from victims as processing fees and other charges, providing them with fabricated loan documents. Victims would only realize they had been swindled when they attempted to repay their supposed loans.

The racket came to light after a victim filed a complaint with the police. Acting on the complaint, the police initiated an investigation, utilizing technical surveillance to track down the culprits. The Superintendent of Police stated that this gang had been active for a long time, defrauding numerous individuals of lakhs of rupees. He urged the public to exercise caution and thoroughly verify any loan offers before falling prey to such scams. Interrogations of the arrested individuals are ongoing, and raids are being conducted to apprehend other members of the gang. Police anticipate that this bust will help resolve several other fraud cases.