UP: Kingpin, 7 others arrested in Rs 100 Cr loan fraud racket

• UP STF arrested eight members, including the kingpin, for over Rs 100 crore loan frauds.
• The gang used forged documents, fake profiles, and shell companies to secure home and personal loans from multiple banks.
• Kingpin Ramkumar, a former bank loan executive, masterminded the racket, creating fake IDs and financial profiles.
• Police recovered numerous forged documents, bank items, and froze 220 bank accounts linked to the gang.
• The accused, some highly qualified, were arrested in Gautam Buddh Nagar after an HDFC Bank complaint.

Why It Matters: It warns of sophisticated loan fraud risks to banks and individuals.