Loan Scam, Cheque Fraud, And A Loss Of Rs 15 Lakh!

New Delhi: The Shahdara Cyber ​​Police have cracked down on a gang that allegedly defrauded people by posing as Direct Selling Agents (DSAs) for private banks and financial institutions, promising to arrange loans and overdraft facilities. The Shahdara Cyber ​​Police team arrested two accused, Adeeb Khan and Anees Ali, in connection with an alleged fraud amounting to ₹15 lakh. Cash worth ₹6.95 lakh was recovered from their possession. Shahdara District DCP Rajendra Prasad Meena stated that another member of the gang, Rajendra, remains at large, and raids are being conducted to locate him.

Lured with the promise of low interest rates

According to the police, the complainant, Akshay Verma, required an overdraft or loan facility. During this time, he met Adeeb Khan. It is alleged that Adeeb introduced himself as a DSA for private banks, including Bajaj Finserv, and assured the complainant he could secure a loan at a low interest rate. As discussions progressed, the accused asked the complainant for cheques to facilitate the loan processing. Trusting the accused, the complainant sent three cheques—including a signed, blank cheque for ₹15 lakh—via a porter to KM Trade Towers in Kaushambi. Police stated that the complainant and the accused never met in person. It is alleged that the ₹15 lakh cheque was subsequently misused, and the funds were deposited into a 'mule' account at Canara Bank. The entire amount was later withdrawn using two other cheques.

Digital clues led to the accused

Upon the matter coming to light, the Shahdara Cyber ​​Police team initiated an investigation. The technical and financial investigation involved a thorough scrutiny of bank accounts, mobile numbers, IMEI/IMSI details, call detail records (CDRs), IPDRs, WhatsApp chats, and the entire chain of financial transactions and withdrawals. Correlating banking and digital evidence provided the police with crucial leads regarding the accused. This was followed by continuous technical surveillance and field operations. According to the police, Adib Khan and Anis Ali were traced and arrested on September 25, 2026. The investigation also analyzed the movements of the accused and the locations they frequented, helping to piece together the entire sequence of the alleged fraud.

Experience as a DSA, followed by alleged misuse of that experience

Police investigations revealed that the accused, Adib Khan, had previously worked as a Direct Selling Agent (DSA) for various private banks. At the time of the incident, he was working on a commission basis as a third-party DSA associated with Bajaj Finserv. The police allege that he leveraged this past experience, professional contacts, and customer data to identify individuals in need of loans or overdraft facilities. He would contact potential clients via WhatsApp, posing as a genuine bank DSA, and promise to secure financial facilities at attractive interest rates. Once trust was established, he would obtain cheques and documents under the pretext of processing the loan. According to the police, these cheques and documents were subsequently misused to withdraw funds.

Distribution of the defrauded funds

According to the police, the total defrauded amount of ₹15 lakh was distributed as follows: ₹9 lakh went to Adib Khan, ₹3 lakh to Anis Ali, and ₹3 lakh to the absconding accused, Rajendra. Anis Ali is accused of providing a 'mule' bank account and playing a role in the withdrawal of funds. Police also stated that the vehicle used by the accused belonged to Anis Ali.

Cash Worth ₹6.95 Lakh Recovered

During the operation, the police recovered ₹6.95 lakh in cash. The recovered amount includes 1,390 notes of the ₹500 denomination. The police are now working to arrest the absconding accused, Rajendra, and recover the remaining proceeds of the fraud.

Police Investigating the Gang's Network

The investigation is ongoing. Alongside searching for the absconding accused, the police are tracing the entire money trail. Additionally, efforts are underway to identify other 'mule' bank accounts, potential accomplices, and other victims who were defrauded using this same modus operandi. The police are also trying to determine the extent of the alleged fake DSA (Direct Selling Agent) network and whether others were targeted in a similar manner.

Key Role Played by These Police Personnel

A special team comprising Sub-Inspector (SI) Balbir Chand, Head Constable Harendra Kumar, Head Constable Ajit Baliyan, and Head Constable Rajesh was constituted to handle the technical investigation and enforcement action. The team operated under the leadership of Inspector Vijay Kumar, SHO of the Shahdara Cyber ​​Police Station. The entire operation was conducted under the close supervision of ACP (Operations) Mohinder Singh and the overall supervision of DCP (Shahdara) Rajendra Prasad Meena. The Cyber ​​Police have appealed to the public not to share bank details, cheques, or important documents with anyone claiming to represent a bank or financial institution without proper verification. Promptly informing the police about suspected financial or cyber fraud can prove crucial for the investigation and the recovery of funds.

Reported By: Pankaj Rai