Lucknow: In a major breakthrough, the Uttar Pradesh Special Task Force (UP STF) and the Cyber Crime Police Station have arrested the alleged mastermind of a large-scale loan fraud racket that reportedly used the identities of more than 100 individuals to obtain loans worth crores of rupees illegally.
The accused, identified as Aamir Ahsan, was arrested on Sunday morning near Sahara Homer locality on IIM Road in Lucknow. Investigators claim the gang, with the support of certain bank officials and employees, fraudulently sanctioned loans under fake documents and forged identities, leading to a massive financial scam.
Bank Officials Allegedly Involved
According to the STF, the fraud was carried out in collusion with bank staff. Earlier, the manager of Union Bank of India’s Jankipuram branch, Gaurav Singh, along with three other accused, had already been arrested and sent to jail in connection with the case.
How the Fraud Was Executed
The case came to light after a complaint filed by Raj Bahadur Gurung, a resident of Hazratganj. He stated that in 2023, on the recommendation of an acquaintance named Indrajeet, he handed over his Aadhaar card and PAN card for the purpose of loan processing.
He was taken to the Union Bank branch in Jankipuram, where several signatures were obtained from him on documents. However, months later, he received an SMS regarding overdue EMI payments. Further investigation revealed that loans had been sanctioned in his name without his knowledge — including a Mudra loan of Rs 9.50 lakh on April 28, 2023, and a car loan of Rs 1.50 lakh on May 10, 2023.
Fake Documents Prepared Through Photo Editing
STF officials revealed that the gang used advanced techniques to forge documents. They allegedly edited photographs on Aadhaar and PAN cards and replaced them with photos of gang members. Fake company quotations were prepared, and with bank staff cooperation, Mudra loans were sanctioned and the money was siphoned off.
Authorities believe the gang has executed similar frauds across multiple banks, using names of individuals, firms, and companies to obtain loans worth crores.
Mastermind’s Background and Seizures
According to ASP Vishal Vikram Singh, Aamir Ahsan holds a BA degree and a diploma in Draftsmanship. He reportedly began planning the fraud operation after meeting an individual named Naved in 2018.
During the arrest, police recovered:
- A mobile phone
- An Aadhaar card
- Three credit/debit cards
- A driving licence
- Cash
- Four luxury vehicles, including two Innova Crystas, one XUV-500, and one Ciaz
Investigation Underway
STF officials stated that investigations are ongoing into the gang’s bank accounts, wallets, and financial transactions. In an attempt to destroy evidence, one of the accused allegedly threw his laptop and mobile phone into a river after learning about the investigation.
More Arrests Expected
The STF confirmed that on September 13, 2025, four accused including bank manager Gaurav Singh were arrested. With the mastermind now in custody, police believe more arrests are likely. Electronic devices seized from the accused will be sent for forensic examination, and authorities expect further major revelations in the coming days.
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