Man dupes people with fake loan promises,arrested

A 58-year-old man,who claims to be a LLB graduate,was arrested by Matunga police for duping people by promising them loan.

A 58-year-old man,who claims to be a LLB graduate,was arrested by Matunga police for duping people by promising them loan. Sachin Desai alias Kishore Parekh lured people by assuring them loan without guarantor. The scam came to light when a Kalyan resident,who wanted loan of Rs 1 lakh,deposited a cheque given by Desai and learnt that his account had only Rs 300.

Desai had placed advertisements in several English newspapers offering loans to even those who do not have guarantors. Last week,Kalyan resident Sandeep Soni contacted Desai about availing a loan of Rs 1 lakh. Desai told Soni that the minimum limit of loan was Rs 3 lakh to which Soni agreed. The accused asked Soni to come with his a few documents required to process the loan, said senior police inspector Sunil Deshmukh from Matunga police station.

Desai came with a woman,who he claimed was his secretary,and asked Soni to furnish 10 per cent of the total loan amount as processing fees. He then handed over a cheque of Rs 3 lakh to Soni.

However,when Soni went to deposit the cheque in a bank he learnt that Desais account was opened recenlty and had only Rs 300 in it. A few days later,Desai again called Soni and offered to reduce the interest rate from 12 per cent to nine per cent for an additional amount of Rs 15000. Convinced that he had been duped,Soni registered a complaint with us, said Deshmukh.

The police then laid a trap and asked Soni to fix a meeting with Desai. When Desais secretary came to collect the money from Soni,the police arrested her and she led them to Desai. His actual name is Kishore Parekh and he claims to be an LLB graduate, said Deshmukh.

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