“Five Star” and “Seven Star” are popular money-doubling programs in Pudukottai and Thanjavur districts. As part of this scheme, fraudsters, in a moving car, exchange five or seven bills for real money under the guise of doubling the money. Invariably, the marks given will be wrong.
A gang that was part of the scams took to the city and engaged in online loan scams by running call centers in Chennai and Bengaluru, Anti-Bank investigation revealed. Fraud Wing. Seven people, including three women, were arrested last week. The police recovered 11.75 lakh from them. The offices in Chennai and Bengaluru have been sealed.
They ran a call center in Pazhavanthangal. The accused hired 40 tele-callers, mostly women, to attract applicants who wanted quick online loans.
A senior police official said: “The telephone operators contacted cell phone users in other districts and claimed to be representatives of a large financial company or nationalized banks. They offered 8.5% personal and business loans through the online method. They attracted gullible people who said they didn’t have to go to a bank to process the loan. ”
The telephone operators collected copies of the PAN card, Aadhaar card and pay slips by email. They offered a loan of 3 lakh to 15 lakh and said they would deduct 4,000 to 8,000 as a processing fee. They then collected credit / debit card details and OTP numbers and defrauded huge amounts. “The gang is suspected of having deceived over 1,000 people. We suspect they have defrauded money up to ₹ 10 crore, ”the senior officer said.