Massive Vehicle Fraud Scheme Uncovered: Suspect Arrested
A significant vehicle rental and mortgage racket was uncovered by the Thane Crime Branch, leading to the seizure of 32 cars worth Rs 2.44 crore and the arrest of suspect Sandeep Raghu Shetty. The investigation is ongoing, revealing a widespread fraud affecting numerous victims across Maharashtra.
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A substantial vehicle rental and mortgage fraud scheme has been dismantled by the Thane Crime Branch, culminating in the arrest of Sandeep Raghu Shetty and the seizure of 32 cars valued at Rs 2.44 crore.
The investigation initiated after five vehicles were reported stolen at Wagle Estate police station. DCP Amarsingh Jadhav explained that Shetty enticed car owners with prospects of high rental returns, subsequently mortgaging the vehicles and embezzling the funds.
The operation, believed to be widespread across Maharashtra, saw vehicles seized from locations including Navi Mumbai and Pune. Authorities suspect more vehicles have been fraudulently mortgaged, and further investigations are in progress.
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