Who are the five individuals arrested for loan fraud in Kolkata?
Synopsis
In a significant crackdown on financial fraud, Kolkata Police have arrested five suspects linked to a loan scam. Operating under the guise of the Pradhan Mantri Mudra Yojana, these individuals allegedly duped small business owners. The investigation is ongoing, with authorities looking to uncover more suspects involved in this deceitful scheme.
Key Takeaways
Five individuals arrested for running a loan fraud scheme.
Fraudulent activities were conducted under the Pradhan Mantri Mudra Yojana .
Authorities seized smartphones during the operation.
Investigation is ongoing to uncover more suspects.
Suspects face charges under the IT Act and BNS .
Kolkata, Jan 10 (NationPress) The Kolkata Police have apprehended five individuals from various states for allegedly orchestrating a deceitful scheme masquerading as a means to provide loans through the Pradhan Mantri Mudra Yojana, authorities reported on Saturday.
As per police statements, the arrests occurred after a raid was executed by officers from the Purba Jadavpur police station late Friday night. The suspects were taken into custody at a residential structure located in Nitai Nagar, on the periphery of Kolkata. Investigations are ongoing to identify other individuals associated with this fraudulent operation.
The apprehended individuals have been named as Amit Khan, Rathin Siddi, Mohammad Nazimuddin Siddiqui, Vishal Shinde, and Madhusudan HR. Rathin, Nazimuddin, Vishal, and Madhusudan hail from Karnataka, while Amit is from Bihar. All were residing within the jurisdiction of the Purba Jadavpur police station.
Police officials reported seizing eight smartphones and six keypad phones from the arrested parties. The suspects are expected to be presented in court on Saturday, where authorities will request their custody for further inquiry.
Reports indicate that these individuals deceived small business proprietors by guaranteeing loans under the Pradhan Mantri Mudra Yojana.
A formal complaint against this loan fraud syndicate was lodged at Purba Jadavpur police station on January 7. Several individuals were arrested during the early phase of the investigation. Following interrogations and findings, law enforcement pinpointed the remaining suspects.
An operation was subsequently launched, leading to the arrest of five individuals from a room located on the third floor of a building in the Nitai Nagar area.
The accused face charges under various sections of the Information Technology (IT) Act and the Bharatiya Nyay Sanhita (BNS). Investigators aim to uncover the full extent of the fraud and identify additional accomplices once custody is secured.
Point of View
I firmly believe in addressing issues that impact our community. This loan fraud case highlights the need for vigilance and accountability in financial dealings. It is crucial that victims come forward and report such incidents to prevent others from falling prey to similar schemes. Our commitment to uncovering the truth and supporting the affected will always remain a priority.
NationPress
10 May 2026
Frequently Asked Questions
What was the nature of the fraud conducted by the arrested individuals?
The arrested individuals were running a fraudulent scheme pretending to facilitate loans under the Pradhan Mantri Mudra Yojana, deceiving small business owners.
How many suspects were arrested in this operation?
Five suspects have been arrested by the Kolkata Police in connection with this loan fraud syndicate.
What items were seized by the police during the arrests?
The police seized eight smartphones and six keypad phones from the arrested individuals.
What legal actions have been taken against the suspects?
The suspects have been charged under various provisions of the Information Technology (IT) Act and the Bharatiya Nyay Sanhita (BNS).
Is the investigation ongoing?
Yes, the investigation is ongoing, and police are working to identify any other individuals involved in the fraud.
