Pramesh S Jain & Yogesh K Porwar
The pulakeshinagar police have registered a case of cheating against five men who lured several people on the pretext of chain link scheme and purchased vehicles on loan using their documents .
The accused has been identified as,Mohammed Zain, Lokesh, Karthik, Mujahid Hafeez, Mansoor and others on Friday.
Senior officer told reporters,The cheating came to light when the investors started getting SMS alerts from the bank demanding to pay the EMI which they had defaulted on.
Shocked investors when contacted the bank,they realized that the accused who offered huge sums of returns and took their personal Ids like Aadhar and PAN cards had submitted the same to get vehicle on loan in their name.
Nayeema Taj,32,tailor from MS Palya and one of the victims said that she was introduced to the prime accused Mohammed Zain by one of her friends in March this year.
The accused who worked in a mobile showroom on MM road in Pulakeshinagar explained that its a chain link scheme and assured huge sums of returns by just introducing other investors into the scheme.
The accused took copies of her aadhaar and PAN card and after registration process gave her Rs. 1,000 cash asking her to get more people and earn more returns.
Overwhelmed by this she introduced as many as 25 people from her area and the accused took their details and later purchased vehicles in a bike showroom on vehicle loan.
The cheating came to light when Taj started receiving phone calls and reminders from banks asking to pay the vehicle EMI .
Shocked by this when she called Zain he told her that he is in Dubai and would return soon to sort out the issue .
Based on the complaint the Pulakeshinagar police have registered a cheating case against five persons and manhunt is on to nab them he added.
