Mumbai Crime Branch Uncovers Multi-State Fraud Involving Luxury Car Loans

Seven suspects arrested for using forged documents to obtain loans and resell high-end vehicles across India.

Mumbai Police have arrested seven individuals involved in a racket using fake documents to acquire luxury cars through fraudulent loans.
The suspects targeted traders with high CIBIL scores, using their GST, PAN, and Aadhaar details to secure loans under false pretenses.
Sixteen high-end cars, including BMWs and Fortuners worth ₹7.30 crore, have been seized from multiple states, with investigations suggesting more vehicles may be involved.
The accused altered engine and chassis numbers of the vehicles before reselling them at reduced prices in states like Delhi, Gujarat, and Madhya Pradesh.
Police are continuing investigations into the inter-state operation, which involved forged identity documents, fake bank accounts, and tampered vehicle registration papers.