Ludhiana, May 22 Gang bought vehicles from finance companies, sold them further
Three members of a gang involved in procuring vehicles from finance companies on fake documents and selling them further were arrested by the Ludhiana police in Partap Singh Wala village today.
The arrested have been identified as Kamal Preet Singh alias Ashu of Haibowal, Narinder Kumar of Shimlapuri and Surjit Singh, also a resident of Haibowal. Some more members of the gang are still at large, said police.
Haibowal police received a tip-off about the gang taking vehicles to Uttar Pradesh for sale. Three tractors, a truck and a motorcycle were impounded in the raid.
Explaining the modus operandi of the gang, Superintendent of Police (City I) Ashish Chaudhary, said: “The arrested bought vehicles through finance companies. They just paid the minimum down payment for the vehicle and sold it further without clearing the remaining installments.”
During interrogation, the accused confessed to selling around ten financed vehicles in UP on cheap rates, said SP Chaudhary.
The police suspect that some employees of the finance companies may also be hand-in-glove with the gang. SP Chaudhary said the role of the finance company employees concerned in the transactions was also under investigation.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment