Gang dupes banks of Rs 8 crore, member held in Punjab

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New Delhi, Mar 20 (UNI) The Delhi Police said they have arrested a member of a gang involved in one of the biggest scams in which it duped various multinational banks of more than Rs 8 crore.

The kingpin of the gang, Sarabjit Singh alias Raja, and two of his associates had been arrested earlier but other members were still at large.

The Special Cell of the Delhi Police arrested conman Sunder Lal from Mohali in Punjab this evening.

The gang members had opened three companies -- Russel Health Systems Limited, Remsons Medical and Pharmaceuticals Limited and Clark Schneider Bio India Limited with Delhi addresses.

The gang then opened the salary accounts of their employees in different multinational banks and on the basis of these applied for various kinds of loans such as auto, personal and credit cards as well.

The loans were procured with fake identity cards and forged documents of the employees and the gang members posed as directors of the companies.

In all, the gang duped the multinational banks of more than Rs 8 crore within a short span of one year, police said.

our cases of cheating and forgery had been registered against the gang members at the Connaught Place police station.


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