Vehicle loan scam: Mizoram police file chargesheet against 20 accused
15-Jul-2024 07:44 PM 1786
Aizawl, July 15 (Reporter) Mizoram Police have completed their investigation into a massive financial fraud case involving Mahindra & Mahindra Financial Services Ltd. (MMFSL) and filed two chargesheets against 20 accused, including the mastermind Jakir Habibur Hussain in the over Rs-150 crore vehicle loan scam. The police filed two chargesheets, running into 300 pages, in the court of Chief Judicial Magistrate, Aizawl. The accused swindled around Rs. 150 crores through cheating and forgery, making EMI payments for fake accounts, using forged documents, and exploiting weaknesses in the company's oversight process, police said. The investigation revealed an intricate web of deceit, with Jakir Hussain, the area manager of MMFSL in Aizawl, orchestrating the fraud with his associates and car dealers. The police froze 177 bank accounts containing Rs. 5 crores and seized 15 cars worth Rs. 10.5 crores. They also recovered 2,035 ghost customer loan files, 25 forged stamps, and other incriminating materials. The probe began on March 20, 2024, with a complaint from MMFSL's Circle Head Ankit Bagree. The investigation led to the arrest of suspects from Mizoram and Assam...////...
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