Panchkula Police Arrest Two in Elaborate Fake Loan Scam, Third Accused Still at Large
In a significant development, Panchkula police have arrested two individuals in connection with a sophisticated fake loan scam that allegedly defrauded a woman of Rs 10.70 lakh. The investigation has revealed that the victim's loan amount was fraudulently inflated without her knowledge, leading to substantial financial loss. Authorities are actively searching for a third accused who remains absconding, while also examining the potential involvement of bank employees in the elaborate scheme.
Details of the Fraudulent Loan Operation
The case originated from a complaint filed by a Kharar resident on December 30, 2025. According to police reports, the woman had applied for a loan of Rs 7 lakh from the State Bank of India branch in Sector 4, Panchkula. However, the accused individuals—identified as Rahul Aggarwal, Abhishek Dhir, and Prashant—allegedly misused her documents to secure approval for a significantly larger amount of Rs 18 lakh.
Police investigation has uncovered multiple layers of deception in this case:
- The accused obtained blank cheques signed by the complainant as security, which they later misused to transfer Rs 8.6 lakh and Rs 2.10 lakh into their personal accounts
- An insurance policy was issued in the woman's name without her knowledge or consent
- Forged No Objection Certificates were prepared in the names of Cholamandalam Investment and Finance Company and Punjab State Co-operative Bank to facilitate loan approval
- Examination of financial records revealed additional outstanding liabilities connected to the fraudulent activity
Police Investigation and Evidence Collection
Panchkula police have been methodically building their case against the accused. Investigators have collected substantial evidence including WhatsApp conversations, bank documents, and various financial records that document the fraudulent activities. Notably, both Rahul Aggarwal and Abhishek Dhir were already incarcerated in connection with another case when they were brought on production warrants for questioning in this loan scam.
During two days of police remand, both arrested individuals confessed to preparing the forged documents used in the scam, according to official statements. Police have also successfully identified and seized the laptop allegedly used to facilitate the criminal activities, adding crucial digital evidence to their case file.
Legal Proceedings and Ongoing Investigation
The case has been registered at Sector 5 Police Station under relevant sections of the Bharatiya Nyaya Sanhita (BNS). Police officials have emphasized that their investigation is ongoing, with particular focus on tracing the third accused who remains at large. Authorities have also indicated they are examining whether bank employees might have been involved in facilitating or overlooking the fraudulent loan approval process.
This case highlights growing concerns about financial fraud in the banking sector and serves as a reminder for citizens to exercise caution when sharing personal documents and financial information. The Panchkula police continue their efforts to ensure all individuals involved in this elaborate scam are brought to justice and the victim receives appropriate legal recourse for her substantial financial loss.
