Achi news desk-
Guwahati: Police have arrested 11 people, including mastermind Jakir Hussain, for running a financial fraud of about 150 million pounds in Mizoram’s Aizawl. Hussain, who was the regional manager of Mahindra & Mahindra Financial Services Ltd. (MMFSL), along with His associates allegedly created over 2,000 fake cases to sanction car loans to non-existent customers.
The case came to light after a complaint filed on March 20, 2024 by MMFSL circle chief Ankit Bagri. He alleged that Hussain was involved in fraudulent activities while disbursing car loans. Another complaint was filed on March 29, 2024 by Chanpreet Singh, Head of Business at MMFSL, leading to further investigation.
The Special Investigation Team (SIT), formed for the case, revealed that Hussain had opened a bank account by pretending to be the head of a business named "Mahindra Finance Limited." This fake account, which was set up in the Hatala branch of Mizoram Rural Bank, was used to commit the fraud by receiving payments from various car dealers involved in the conspiracy.
Click here to join our WhatsApp channel
The following people were arrested for their roles in the scam:
• Jakir Hussain: The alleged mastermind behind the scam. He orchestrated the fraud, created fake documents and set up a fake bank account to hold defrauded funds.
• H. Lalthankima: A staff member in the office who helped open the fake bank account and create fake loan files.
• Edenthara: A business executive who was involved in creating fake documents and misrepresenting their office designations to open the fraudulent bank account.
• Manoj Sunar: a private employee on Jakir’s payroll, who supported him in preparing fake cases. He was paid Rs. 15,000 per month to assist with operations.
• Rinto: a private driver who served as Jakir’s driver and directed various fraudulent operations.
• Kajal Das: An employee of a Tata dealer who was paid Rs. 30,000 for each fake file he helped create.
• C. Lalawmpuia: a private person involved in preparing fake files for fraud.
• Yogesh Sarada: former employee and head of a Mahindra circle that allegedly embezzled large sums of money.
• Lalrinnunga Ralte: An employee of MMFSL who served as the main link between Jakir and the car dealers involved in the scam.
• Lalchhandama: Another employee of MMFSL whose account was used for embezzlement.
• Praloy Das: Jakir’s superior who played a role in the conspiracy and embezzled significant funds.
Also Read: Dog rescued after falling into 25 feet well in Guwahati
The SIT found significant evidence, including 26 bank accounts with about Rs. 2.5 crores, 15 brand new cars worth over Rs. 3 cars, 3 laptops, 10 mobile phones, 549 ghost customer files, 25 fake stamps, and more than 30 SIM cards. In addition, landed property belonging to Jakir Hussain worth about Rs. 3 cars were identified.
The investigation also revealed that certain car dealerships were involved in the conspiracy, including CK Motors Hyundai, NBE Tata, Rafael Nissan, Aidoo Motors Renault and Standard Motors (three-wheelers). The accounts of these dealers, amounting to about Rs. 1 crore, were frozen, and they returned over Rs. 3.47 crores directly to MMFSL.
Further investigation into the case is ongoing.
