Five held for duping people under loan scheme

Five persons have been arrested for allegedly duping people, including NRIs and Americans, to the tune of a cumulative Rs 25 lakh on the pretext of providing loans to them, police said today.
The accused have been identified as Amit Patel, Kishor Patel, Jay Bhojani, Ravi Bhalara and Jayeep Kacchadiya, Inspector VB Jadeja of the office of Detection of Crime Branch (DCB) told reporters here.
The five accused allegedly set up a bogus company and cheated around 155 people, including NRIs and American, in the name of extending loans to them, he said.
Acting on a tip-off, Crime Branch sleuths last night raided Shilpan Tower apartments on Tagore Road and arrested Amit and Kishor along with Bhojani. Computers and international call cards were seized there, police said.

Based on the information provided by the three accused during their interrogation, the police team raided another place on University Road and arrested Bhalara and Kacchadiya.
"The gang used to get the details of the people from the US who were seeking loans. They would contact such people to give them details about their loan schemes.
"They would later inform them that their loan plea has been sanctioned and would ask them to deposit between USD 200 and 500 as service charge in a bank account," Jadeja said.
Inquiries are on to nab the other members of the gang, police added.