A massive scam involving car purchases has come to light in Jamshedpur, where over 400 individuals have fallen victim. Reports indicate that the fraudulent scheme has resulted in losses exceeding ₹4 crore.
How the Scam Operated
1. Fake RCs Issued:
The fraudsters sold cars with fake registration certificates (RCs) and collected full cash payments from buyers.
2. Deceptive Calls Later:
A year after the purchase, victims would receive calls claiming that the car was financed and their loan payments were overdue.
3. Discovery of Fraud:
Upon contacting banks or the RTO, victims found that the RCs were counterfeit and the cars were already under loan agreements.
Bank Involvement Suspected
The scam reportedly involved ICICI Bank’s Golmuri branch, which financed around 250 vehicles as part of this fraudulent operation.
Scale of the Scam
Over 400 people in Jamshedpur have been affected by the scam, with the total value of the fraud exceeding ₹4 crore.
Police Investigation
A case has been registered at the Bistupur police station, and authorities are actively investigating the matter. Efforts are underway to identify and apprehend the culprits.
This case has raised concerns about financial and legal oversight in vehicle purchases, prompting authorities to urge vigilance among buyers.
