Mumbai News: Malad Woman Cheated Of ₹28L In Loan Fraud; 2 Booked

Mumbai News: Malad Woman Cheated Of ₹28L In Loan Fraud; 2 Booked

Having acquired a loan of around Rs2.5 crore from various banks for her business, the victim sought an additional loan for repayment of her previous loans and business expansion.

Megha KuchikUpdated: Monday, March 11, 2024, 11:47 AM IST
article-image
Mumbai News: Malad Woman Cheated Of ₹28L In Loan Fraud; 2 Booked |

Mumbai: The Malad police have booked two people for duping a woman of Rs28 lakh under the pretext of securing a loan of Rs 4.2 crore. The FIRs were filed against Chandrakant Gaikwad and Pradeep Mishra.

According to the police report, Dhvani Mehta (33), residing in Borivali with her husband and mother-in-law, runs a stationery business. Having acquired a loan of around Rs2.5 crore from various banks for her business, she sought an additional loan for repayment of her previous loans and business expansion. Because of her existing loans, getting more funds became difficult. She reached out to relatives, who linked her with Gaikwad, an agent.

Accused Collected Small Sums Of Money From Victim Citing Charges

Gaikwad collected her documents with the promise of securing Rs4.2 crore loan from 'Midas Finance.' The deal was finalised, and Gaikwad would receive an 8% commission, as agreed upon after approval. Following this, Gaikwad and his associate Pradeep Mishra demanded various sums, citing processing fees and insurance. Dhvani, trusting the duo, transferred Rs28 lakh. However, the promised loan amount failed to materialise.

RECENT STORIES

Pakistan Spy Ring: ATS Expands Naval Espionage Probe, Ravi Verma Interrogated, Employee Phones...

Pakistan Spy Ring: ATS Expands Naval Espionage Probe, Ravi Verma Interrogated, Employee Phones...

Victoria Horse Carriage Spotted In Mumbai Despite Ban; FIR Filed After PETA Complaint

Victoria Horse Carriage Spotted In Mumbai Despite Ban; FIR Filed After PETA Complaint

Mumbai News: Citizens March In Dadar For Social Justice, Communal Harmony And Environmental...

Mumbai News: Citizens March In Dadar For Social Justice, Communal Harmony And Environmental...

Mumbai News: Man Arrested Under POCSO Act For Allegedly Molesting 7-Year-Old Neighbor

Mumbai News: Man Arrested Under POCSO Act For Allegedly Molesting 7-Year-Old Neighbor

Maharashtra News: 3 Women Injured As E-Bike Battery Explodes & Triggers Fire In Thane

Maharashtra News: 3 Women Injured As E-Bike Battery Explodes & Triggers Fire In Thane