Delhi Police Bust Loan Fraud Racket Using Forged Documents
Delhi Police arrested a key accused for using forged documents to secure illegal business loans. Learn how the racket operated via Telegram.
The Delhi Police's Cyber North police station has successfully dismantled an alleged loan fraud racket that utilized forged documents and stolen identities to secure illicit business loans. A key suspect has been arrested for his role in obtaining an unauthorized ₹7.30 lakh loan under the name of a female entrepreneur's company.
The Discovery of the Fraud
The investigation was triggered by a formal complaint from N Singh, a resident of Burari and the proprietor of Medinex Hurbo Care. The complainant discovered the scam while applying for an education loan for her daughter in January 2026, only to realize that her CIBIL score had been severely impacted by an unauthorized debt.
It was revealed that in December 2023, a loan amounting to ₹7.30 lakh had been sanctioned in her company's name through Lendingkart Finance Ltd. The funds were credited to a Kotak Mahindra Bank account that had been opened without her knowledge or consent. The fraudsters had allegedly misused her PAN, GST details, signature, and other vital business documents to facilitate the transaction.
How the Racket Operated
The investigation, conducted by a dedicated police team, involved a deep dive into call detail records, IMEI details, IP logs, and bank transactions. The police monitored approximately 100 suspected mobile numbers and associated IMEIs to trace the movement of the stolen funds.
The modus operandi of the syndicate was sophisticated:
- Data Sourcing: The accused allegedly sourced genuine identity and business documents from open platforms or information previously shared by unsuspecting loan seekers.
- Document Forgery: Using digital editing tools, the gang created fraudulent PAN cards, GST certificates, and Udyam Registration certificates.
- Telegram Recruitment: The group operated Telegram groups to offer "loan assistance" to prospective applicants.
- Information Harvesting: They collected sensitive data, including Aadhaar documents, photographs, and bank account details from victims.
- SIM Card Control: In many cases, the accused would retain control of the victim's SIM cards to prevent them from making independent transactions or discovering the fraud.
Key Arrests and Evidence Recovered
Following a raid in village Nahra, Sonipat, Haryana, the police apprehended 36-year-old Sahil. Investigators found that Sahil had used the complainant's own mobile phone to submit the fraudulent application. Digital footprints, including IP logs, linked the email used in the loan process directly to him. It is alleged that Sahil received a 30 per cent commission from the sanctioned amounts. Preliminary findings suggest Sahil may be involved in securing 5-6 loans through Lendingkart and facilitating 50-60 instant loans through various apps.
Another suspect, 34-year-old Neetu Singh, was located and bound down during a raid in Kailash Puri, Dwarka, on September 19, 2026.
During the operation, police recovered two mobile phones and three SIM cards. Digital evidence, including WhatsApp chats detailing financial transactions and wallet details, is currently being examined to trace the full financial trail and establish further links within the criminal network.