MBA student and an employee of a dues-settlement agency arrested for bank fraud

Two accused has been arrested by the Mumbai police on charges of deceiving several banks customers. The accused, Samir Darekar (26), an employee of Resolutions Services and Vinod Kumar Patel (24), an MBA student, were arrested on the complaint of the manager from Resolution Services. The firm resolves outstanding bills and loans of various banks.

The two were produced before a metropolitan court on Thursday and later remanded to police custody.

According to the police report, Darekar's job was to approach bank customers, who had availed of credit cards but had not cleared outstanding payments. Once they made the payment, Darekar would provide them with a settlement letter, issued by the bank.

Officer Arvind Pawar of the Vakola police said, "Patel, who was friends with Darekar, came up with the plan of forging the settlement letter. Darekar would then convince some customers to make a settlement at a much lower amount and offer them the forged letter. The money earned was pocketed by the duo. The bank realized that they had been conned only when the customers approached them with the forged letters."