An employee of a finance company and his wife have been booked by the police for cheating a resident of Chhawani Mohalla in Ludhiana, India, out of ₹23.34 lakh in cash. The accused, identified as Raminderpal Singh and Amandeep Kaur, visited the victim’s house and claimed that Raminderpal would collect loan installments on behalf of the finance company and deposit them into the company’s account. However, instead of depositing the money, the accused kept the cash for themselves. They opened a new bank account and started depositing the collected money into it. The victim realized the fraud when he discovered that his installments were not being deposited into the company’s account.
Following the victim’s complaint, the police registered a case against the accused under Sections 406, 420, and 120-B of the Indian Penal Code, which deal with criminal breach of trust, cheating, and criminal conspiracy, respectively. The police are currently searching for the accused to make arrests. The investigation into the case began on April 12, 2023, after the victim filed his complaint. It is a cautionary tale highlighting the importance of verifying the legitimacy of individuals collecting loan payments and exercising caution when dealing with financial transactions.
The incident sheds light on the vulnerability of individuals when it comes to financial matters. In this case, the victim trusted the accused due to their association with the finance company, only to be deceived and lose a substantial amount of money. The accused took advantage of their position and familiarity to carry out their fraudulent activities. The incident serves as a reminder for individuals to be cautious in financial transactions and exercise due diligence in verifying the authenticity of individuals representing financial institutions. This incident also emphasizes the need for increased awareness and education regarding financial scams and frauds to protect innocent individuals from falling victim to such schemes.
