Muzaffarnagar (UP), Dec 1 (PTI) Four people have been arrested on charges of securing vehicle loans by forging documents, and four luxury cars worth Rs 70 lakh have been seized from their possession here, police said on Wednesday.
Ankush Tyagi, Alok Tyagi, Sandeep Kumar and Sudhir Kumar were arrested from the New Mandi Police Station area on Tuesday, Muzaffarnagar City Superintendent of Police Arpit Vijayvargiya told reporters.
Their fraud came to light when a local resident visited a bank to apply for a vehicle loan but he was taken aback when the bank officials told him that he had already availed the loan amount to the tune of several lakhs of rupees.
Alarmed by this, he soon lodged a police complaint.
During investigation, it was revealed that the man was one of the victims on whose names the accused had forged documents and availed vehicle loans, the SP said.
Police said they suspect the involvement of employees of some banks and finance companies in the fraud too. PTI COR CJ RCJ RCJ
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