NEW DELHI: Police have arrested three men, including the mastermind, involved in a fraudulent two-wheeler financing scheme, an official said on Wednesday. According to the officer, the arrest has led to the recovery of 13 two-wheelers acquired through forged identities. The accused were identified as Ankit, Sameer Manothiya alias Rocky and Nisar.
The arrest came after the police began investigating a case of OTO Capital, a two-wheeler finance company, where 35 loans issued from February to May 2023 were secured using forged IDs, photographs, and impersonation during virtual verification.
During the probe, it was revealed that vehicles were handed over to the accused from various dealers through mobile numbers, from which the loans were applied from OTO Capital. “It was found that Ankit and Harsh, along with other co-accused, were running a syndicate using forged and fake documents to get vehicles financed,” Deputy Commissioner of Police (IFSO unit) Hemant Tiwari said.
The accused Ankit was arrested in the case. On interrogation, it was found that Ankit, during COVID-19, started a business of giving loans on an interest basis. He financed Sameer and got 35–40 two-wheelers issued on forged names and further sold them to one Nisar on a profit basis. A total of 13 two-wheelers, including one Royal Enfield motorcycle have been recovered from the arrested accused,” the DCP added.
