Electric Dreams Turned Nightmare: EV Scam Uncovered

Two men in the electric vehicle business, Hanumantha Bilkar and Rakesh, are accused of defrauding buyers by offering subsidized rates under a non-existent government scheme. They allegedly arranged loans in buyers' names, pocketed the funds, and halted promised EMI payments, leaving buyers and banks in trouble.

In a shocking development, two individuals involved in the city's electric vehicle market have been apprehended for duping customers by falsely offering subsidized two-wheelers. The arrest followed complaints at local police stations, revealing this elaborate fraud scheme.

Hanumantha Bilkar and Rakesh, the accused, crafted a convincing narrative of a central government scheme that offered subsidized electric two-wheelers. However, the scheme was a complete fabrication, according to police reports.

These individuals allegedly secured loans in the buyers' names, diverting the funds to their own companies. They initially covered some EMI payments but soon defaulted, leaving unsuspecting customers and financial institutions to manage the fallout. Authorities are continuing their investigation to determine the full scope of this deception.

(With inputs from agencies.)