Hyderabad, Sept 5 (Hydnow): The Chandrayangutta police in the Southeast Zone of Hyderabad have arrested a fraudulent rent-a-car business owner who swindled car owners by mortgaging their vehicles without their knowledge. The police successfully recovered a total of 8 cars, valued at approximately Rs. 1.2 crore.
The accused, Mohammad Aslam Nawaz, 33, had been operating a car rental business in Sanathnagar since 2021. He would enter into car lease, rental, and hypothecation agreements with unsuspecting car owners, and then use the vehicles for his own business.
Nawaz’s modus operandi was to lease cars from owners for short periods, and then mortgage them to other parties without the owners’ knowledge. He would secure loans of Rs. 3 to 4 lakhs in this way, and use the money to lead a lavish lifestyle.
Advertisements
On September 4, 2023, the Chandrayangutta police intercepted Nawaz while he was driving a Maruti-Vitara Breeza VDI with registration number TS22H6273. Acting on a tip-off, the police arrested Nawaz and recovered the eight cars that he had mortgaged.
The police have registered a case against Nawaz under Sections 420 (cheating) and 406 (criminal breach of trust) of the Indian Penal Code. He is currently in police custody.
The police are urging car owners to be careful when entering into car lease, rental, or hypothecation agreements. They should only deal with reputable companies and individuals, and they should always read the terms and conditions carefully before signing any documents.
Advertisements
This case is a reminder of the importance of being vigilant when dealing with financial transactions. By taking precautions, you can help to protect yourself from becoming a victim of fraud. (Hydnow)
Nex Story:
-
Man Stages Protest Over Losing His Four Goats In A Stray Dog Attack
The protest by a man, who lost four of his goats in an attack by stray dogs, caught the attention of the public in Kothapalli municipality on Wednesday.
-
Judicial Custody Of Manish Sisodia Extended Till May 30
A Delhi court on Wednesday extended till May 30 the judicial custody of AAP leader and former Deputy Chief Minister of Delhi Manish Sisodia in the liquor policy case.
-
Good News For Telangana: Rains For Three Days
The Meteorological department has given good news to Telangana. Southwest Monsoon will arrive early in the state. It has been revealed that it is likely to come towards the Bay of Bengal on May 19.
-
ECI Summons To AP CS And DGP To Delhi
The Election Commission of India (ECI) has become serious about the Assembly and Lok Sabha elections in Andhra Pradesh becoming a battleground.
-
Auto Driver Murdered In Mancherial
A young auto-rickshaw driver was murdered, allegedly for having a relationship with his cousin sister in Hajipur Mandal center on Tuesday night.
Now you can get the latest stories from Hydnow every day. Click the link to subscribe. Click to follow Hydnow’s Facebook page and Twitter and Instagram