Man Booked For Alleged Multi-Crore Financial Fraud In Indore
Indore (Madhya Pradesh): The city crime branch arrested a man for allegedly cheating a person by promising a Rs 2.05-crore loan and inflating the value of his property, officials said on Thursday. Police said the accused has been identified as Naveen Ojha, a resident of Tejaji Nagar. He worked as a loan agent and broker for finance companies and banks and posed as a representative or agent of a…
Indore police have arrested Naveen Ojha for allegedly orchestrating a multi-crore financial fraud, according to officials on Thursday. Ojha, a resident of Tejaji Nagar and a former loan agent, is accused of deceiving an individual by promising a loan amounting to Rs 2.05 crore. The accused worked for finance companies and banks, posing as their representative or agent.
Authorities claim Ojha helped secure the loan, collecting substantial sums from the victim via RTGS and cash, claiming it was for property valuation and stamp duty payment. During the investigation, police discovered forged property search and valuation reports to facilitate the loan. Allegedly, Ojha threatened the complainant when questioned about returning the money.
The crime branch has registered a case against the accused under sections 316(2), 316(5) and 318(4) of the Indian Penal Code. Police are investigating the involvement of associates and connections to financial institutions.
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