Two held for duping 20 home loan seekers

MUMBAI: The Bhandup police arrested two men for allegedly making false promises of getting the home buyers housing loan at less interest rate against the current offer that the bank have made in the market. To avail the loan the victims are made to take membership with the company the duo -- Sachin Gavare (32) and Bharat Devare (32) -- has placed.

The matter came to light when the victims got suspicion on the two accused after they stopped responding their phone calls. "The accused collected Rs40,000-Rs50,000 membership fees from 20 victims from Bhandup. They have been operating the fraud since last one year. We are also probing the total number of people they have duped from across the city," said Bhandup police senior inspector Shrirang Nadgauda.

The accused are residents of Chembur and had opened a small office in Bhandup locality. They have been booked under IPC sections 34 (common intention) and 420 (cheating). They are in police custody June 21. They lured people by placing advertisement in newspapers.

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