Man cheated of Rs 1.1 lakh with tempting loan offer

V G Selvan, an employee of a private firm, was cheated of Rs 1.1 lakh by a person who offered to get a personal loan processed for him from ING Vysya bank.u00a0

Selvan, a resident of HMT Layout, has filed a fraud complaint with the RT Nagar police.

Selvan, who has a savings account in ING Vysya, got a call from Guru, who claimed to be an executive from the bank's loan department, on January 5.

Guru told Selvan his car loan had been rejected and suggested a pre-approved personal loan of Rs 2 lakh instead to buy a car.

Selvan agreed and Guru asked for six cheque leaves, identity proof and a passport-size photo. The same day, Selvan handed over the documents to a collection agent sent by Guru.

The next day, Selvan received a call from Mohan, also claiming to be from ING Vysya, who told him he had processed his loan application and it would be sanctioned soon.

Mohan also asked him to give cheques of different banks as collateral security since the cheques submitted earlier were not validating. Selvan handed over post-dated cheques of Vijaya Bank, where he has another account.

Selvan got a call from Vijaya Bank on January 8, informing him they had encashed two of his cheques worth Rs 80,000 and Rs 30,000 that day.

The staff also told him they could not encash the other cheques presented in the bank, due to insufficient funds.

Sensing something fishy, Selvan asked the bank to freeze the account. RT Nagar Sub-Inspector H S Venkatesh, who is investigating the case, said the accused, Guru, is a sacked employee of ING Vysya bank, who has misused the account holders' database and cheated many account holders similarly, using differnt mobile numbers.

"He might have availed several SIM cards from different service providers for his mission," the officer said. "We are trying to track Guru alias Mannu."