A five-year-old cheating case in Saket, South Delhi was solved with the arrest of three individuals, a Crime Branch team of the Delhi Police said on Thursday.

The accused were identified as Vinay Aggarwal (42) of Laxmi Nagar, Kuldeep Singh (35) of New Ashok Nagar, and Sunil Kumar (43) of Trilok Puri area. They were arrested after being implicated in a fraudulent scheme involving the use of forged documents to obtain loans from various banks.

The case originated from a complaint filed by Loknarayan Karotiya on behalf of a Finance company under Section 156(3) of the CrPC. The complaint alleged that Manish Kumar and others had secured a salaried personal loan from the company by presenting a fake government employee ID card and other fraudulent income documents.

The loan amount exceeded 30 lakh rupees and the three had falsely represented themselves as employees of the Principal Director of Commercial Audit, a government office located at Bahadur Shah Zafar Marg, Delhi, added the complainant.

The fraud came to light when the EMIs for the loans taken by the accused began bouncing. Upon investigation, it was discovered that the accused had never been employed at the office they claimed and had provided forged documents to secure the loans. As a result, a formal complaint was filed following the orders from the Chief Metropolitan Magistrate, North West, Rohini Court.

During investigation, the police analysed more than 100 call detail records which led to the identification of a mobile number used by one of the accused, Kuldeep Singh. Further analysis revealed that Vinay Aggarwal was using the identity of Manpreet Singh, and it was discovered that he, along with Kuldeep and Sunil, had been involved in fraudulent activities since 2019.

The accused had been obtaining loans from various banks using forged documents. They had managed to secure loans from over 50 banks using these fraudulent methods. Vinay’s photograph was used on forged documents prepared in the name of Manpreet Singh to obtain loans from the complainant Financer.

After months of technical surveillance and raids at over two dozen locations, the team successfully arrested Vinay Aggarwal, Kuldeep Singh, and Sunil Kumar from their respective residences.

During the investigation, it was revealed that the accused and their associates would identify individuals whose identities could be used for their fraudulent activities.

They created forged documents, opened bank accounts in the names of these individuals, and deposited money as salaries from fictitious companies.

Once the salaried accounts received loan offers from banks, they applied for and secured the loans using the forged documents. The EMIs were paid for a few months before they defaulted.

The money obtained through the loans was divided among the conspirators, with a portion given to the individuals whose identities were used.