Bengaluru: Man Arrested For Selling Rented Vehicles After Removing GPS, 9 Cars Seized
Date
6/22/2024 4:00:21 AM
(MENAFN- AsiaNet News) A man was arrested by the Hulimavu Police station in connection with a sophisticated car rental scam where vehicles were fraudulently sold and mortgaged. Identified as Srinivasa (35), a resident of Laggere, the accused allegedly deceived multiple car owners across Bengaluru.
According to police officials, Srinivasa's modus operandi involved responding to car rental advertisements on platforms like facebook and OLX. He targeted individuals struggling with car loan repayments, offering to rent their vehicles and promising to cover the monthly instalments. Once entrusted with the cars, he would discreetly remove the GPS devices and take photographs of the original registration certificates (RC) and insurance policies.
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Using these photos, Srinivasa forged documents in his name, subsequently using acquaintances to secure loans against the vehicles ranging from Rs. 50,000 to Rs. 1 lakh each. He would then disappear, changing his contact details to evade the owners and leaving them to face overdue loan notices from banks.
The scam came to light when Mahesh Jha, a resident of MLA Layout, Kalena Agrahara reported Srinivasa after he rented a car and absconded. An investigation was promptly launched, leading to Srinivasa's arrest and subsequent seizure of nine vehicles estimated to be worth Rs. 90 lakh.
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Three of the nine seized cars had already been mortgaged, and three others were slated for sale. Authorities suspect that Srinivasa may have executed similar scams across different parts of the city, with ongoing investigations expected to uncover further details.
The police have urged anyone who may have fallen victim to such schemes or has relevant information to come forward and assist in the investigation. Srinivasa is currently in custody awaiting legal proceedings, while efforts are underway to compensate the affected car owners and resolve the fraudulent transactions.
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