The Mumbai Police Crime Branch arrested seven individuals involved in a scheme using fake Aadhaar and PAN cards to buy and resell luxury vehicles, defrauding banks and victims across multiple states. The accused, including four with previous criminal records, acquired cars worth ₹7.30 crore, with 16 vehicles, including a BMW convertible, seized so far. Their tactic involved obtaining PAN card details via GST numbers, creating fraudulent cards, and targeting businessmen with good CIBIL scores to secure loans. They later sold the cars in Delhi, Gujarat, and Madhya Pradesh, altering engine and chassis numbers. Investigations continue.
Mumbai:
The Mumbai Police Crime Branch has apprehended seven individuals for allegedly utilizing counterfeit Aadhaar and PAN cards to acquire and resell luxury vehicles, deceiving numerous individuals and banks in a scheme that extended across several states, officials reported on Monday.
The suspects, four of whom have prior criminal records, purchased vehicles totaling Rs 7.30 crore in the city. So far, sixteen cars, which include a BMW convertible and eight Fortuners, have been confiscated, with the total potentially rising to 35, according to officials.
Describing the modus operandi, one of the officials stated that the perpetrators managed to obtain the PAN card information of various traders by utilizing their GST numbers and subsequently crafted fake PAN and Aadhaar cards. They then assessed the traders’ CIBIL scores, specifically targeting businessmen with favorable scores as their information was leveraged to secure loans from banks.
However, the accused affixed their own photographs on the bank paperwork. With the funds from the loans, they procured luxury vehicles and sold them via agents in Delhi, Gujarat, and Madhya Pradesh after altering the engine and chassis numbers, said the official.
A comprehensive investigation is currently underway, the official added.