Loan Fraud Ring Busted: Five Arrested in Purba Jadavpur

Five individuals have been arrested in Purba Jadavpur for allegedly defrauding people by falsely promising loans under the Pradhan Mantri MUDRA Yojana. The police, acting on a complaint, conducted a raid and recovered multiple mobile phones. Further investigation is underway to trace the full extent of the fraud.

In a significant crackdown, police have apprehended five individuals in Purba Jadavpur for their alleged involvement in a loan fraud scheme under the Pradhan Mantri MUDRA Yojana. The arrests were made following a raid conducted in a residential area, as informed by a senior police officer on Saturday.

The accused, identified as Amit Khan, Rathin CD, Mohammad Nazimuddin Siddiqui, Vishal Sindhe, and Madhusudan HR, hail from Karnataka and Bihar. They were captured from a residential complex where eight smartphones and six keypad mobile phones were seized.

The accused are alleged to have targeted small business owners, offering fake loan promises under the PMMY scheme. The investigation began after a complaint was lodged on January 7. Police registered the case under various sections of the Information Technology Act and the Bharatiya Nyaya Sanhita and are pursuing further leads to expose the full reach of the racket.

(With inputs from agencies.)