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Gurugram: GM dupes NBFC, 588 customers of ₹11.25 crore
A 32-year-old general manager, Satish Chandra, has been arrested in Gurugram for allegedly swindling ₹11.25 crore in a loan fraud scheme that targeted both a non-banking financial company (NBFC) and hundreds of its customers.
He reportedly tricked customers into paying advance EMIs and fake pre-closure discounts, then moved the money to his own accounts while handing out bogus no-objection certificates.
Chandra's actions affected 588 borrowers
Chandra's actions affected 588 borrowers, with only ₹8.15 crore actually reaching the NBFC.
After the company filed a complaint in July, police arrested him and are now looking for other officials who might be involved.
The investigation is ongoing as authorities work to uncover the full extent of the fraud.