The city police on Tuesday busted a gang of fraudsters who were allegedly involved in selling cars, that they rented from owners using forged documents.
Bagalgunte police arrested four people and recovered 67 vehicles that they had sold to people in neighbouring states of Andhra Pradesh and Tamil Nadu.
The prime accused in the case, the owner of RS Travels used to rent a car from owners after assuring them a monthly payment of Rs 15,000-18000 based on the vehicle. The racket was being carried out in connivance with three other persons, two of whom were employees of RS Travels and were entrusted with the task of enticing car owners with the firm’s offer. The other accused was involved in selling these rented cars in Andhra Pradesh and Tamil Nadu, police said.
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Their modus operandi would be to enter into an agreement with the car owners. The scam started in March 2021 and the car owners were paid the monthly rentals for a few months. Later, the accused sold off these cars. In October 2021, they closed the shop and went absconding
Following a complaint, the police were able to track down the accused and recovered 67 vehicles worth around Rs 5.72 crore. Police said that they are yet to recover other vehicles and an investigation is ongoing