Staff Reporter

NEW DELHI: A 37-year-old loan agent has been arrested for allegedly duping a non-resident Indian of Rs.14 lakh by offering him a fictitious interest-free repayment plan for a housing loan.

Pritpal Singh, the NRI residing in the US, wanted to buy a flat in Gurgaon and was looking for a good house loan scheme when Davinder Singh Ratra approached him and arranged a Rs.50 lakh loan from a private bank in Janakpuri.

Davinder, who posed as CEO of Regards Marketing Private Limited, lured the NRI with a fictitious repayment scheme. The loan agent convinced the NRI to gave him a Rs.14 lakh cheque and promised to adjust the amount in the EMIs. He than deposited the cheque in his wife’s account and withdrew the money. He vacated his own house in Delhi and moved to Gurgaon.