UP News: The joint police team of Noida police station Sector 20 and Phase 1 has busted a fraud gang. This gang used to cheat people in the name of getting fake loans and investments. Eight people associated with this gang have been arrested, including two women. Police have recovered electronic devices and fake letters of Reserve Bank of India (RBI) from the possession of the accused.
In fact, the owner of Raghunandan Jewelers located in Sector 18 had registered a case of theft of gold worth crores from the shop in Sector 20 police station in December. When the police investigated the matter, they found out that the custodian of the jewelery shop, Naresh, had committed the theft. His wife was also involved in this conspiracy. When Sector 20 police station arrested Naresh and interrogated him, he confessed to the theft.
During interrogation, Naresh revealed that he had invested the stolen gold in an investment company located in Sector 2. When the police investigated the company, it was found that this company was cheating people through fraudulent means. The gold that Naresh had stolen was also cheated by the same gang in the name of investment.
During interrogation, the accused told that this entire network of fraud used to deceive people into getting loans at low interest rates and investing in the name of high returns. To prove themselves genuine, they used to prepare fake documents of RBI and share them through WhatsApp. People used to fall into their trap after seeing these documents.
Police have arrested eight gang members including two women in this case. Police investigation has also revealed that the gang had cheated many other people including Naresh. Police are currently trying to find out how many people this gang has targeted so far.
