New Delhi: The Delhi Police have arrested eight people, including five women for allegedly running an education loan racket in Delhi. Those eight has duped over 500 students by assuring them easy loans.
According to the police this gang used numerous bank accounts for transactions worth more than Rs. 1 crore.
The gang used to advertise in the local newspapers offering easy education loans. While the girls in the gang used to convince the victims on mobile telephones to deposit money in the specified bank accounts.
The gang was illegally organized by a 24 year old Varun Sardana, who got arrested at a raid in Parmanand Colony in Mukherjee Nagar along with other members of his gang.
According to the police, they have recovered 26 mobile phones, 16 bank accounts, 57 unused SIM cards, 18 ATM cards; all acquired through fake IDs.