Four finance scam accused get PCR

Yavatmal: The four accused in the Shreeram City Finance Limited fraud, who were detained by the economic offences wing (EOW) of Yavatmal police, have been granted police custody remand (PCR) by the district court on Saturday.
The team, led by PSI Rahulkumar Raut of EOW, had unearthed the plan to cheat customers of the local branch of Shreeram City Finance Limited.Four employees, Bhushan Bhusari (35), a resident of Umarsara, Amol Puri (42), a resident of Shivaji Ward, Ghatanji, Rupesh Yadav (34), a resident of Borale Layout and Hemant Bondre (34), a resident of Trinurti Nagar of Jam Road were arrested on Friday evening.
The foursome had collected Rs.1,13,33,130 from 16 customers who had taken loans after pledging their gold ornaments as security. The customers had returned the loan amount and their ornaments were ‘promptly’ returned.
The four employees had replaced the original ornaments with duplicate ones and kept them in packets in the locker. They even didn’t deposit the collected sums with the company.
A few months ago, when the issue came to the fore, the company lodged a complaint with the Awadhootwadi police against its own employees.
The police registered a criminal offence under sections 467, 468, 408, 471, 420 and 34 of the IPC against the foursome and the investigation was handed over to the EOW.
The culprits tried to seek anticipatory bail from the district and high court but their moves were thwarted by the alert cops.
Finally, the four accused were arrested by the EOW team on Friday. Further investigation is under way, informed SP M.Rajkumar.