HT Digital
GUWAHATI, July 16: The Mizoram Police on Monday lodged two chargesheets against 20 individuals employed by Mahindra & Mahindra Financial Services Limited (MMFSL) for their alleged participation in fraudulent activities, including cheating and forgery, totaling around Rs 150 crores within the organization.
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As per reports, the staff members hail from the northeastern states of Mizoram and Assam.
Taking to micro-blogging site X, the Mizoram Police stated, “Press Note Dtd.15.7.2024 on the financial fraud against Mahindra & Mahindra Financial Service Ltd.”
Press Note Dtd.15.7.2024 on the financial fraud against Mahindra & Mahindra Financial Service Ltd.
— Mizoram Police (@mizorampolice) July 15, 2024
Detail Press Note (English & Mizo) at https://t.co/a8ej3ndb8i pic.twitter.com/5Lz8iDkJ5P
According to the press release issued by the Mizoram Police, the inquiry into the fraudulent scheme that impacted all states in the Northeast region uncovered that approximately Rs 150 crores was embezzled by the main perpetrator, the accused Jakir Habibur Hussain (41).
Hussain, the area manager of MMFSL, collaborated with Mahindra Finance Company, as well as his accomplices and Aizawl-based car dealers such as CK Hyundai Cars, NBE TAA, Rafael Nissan, and AIDU Motors Renault to carry out the fraud.
Meanwhile, authorities froze 177 bank accounts holding approximately Rs 5 crores and confiscated 15 cars of various makes valued at Rs 10.5 crores.
Additionally, law enforcement recovered 2035 fraudulent customer loan files, 25 counterfeit stamps and seals, 3 laptops, 10 mobile phones, 35 SIM cards, numerous identity documents, and other pieces of evidence.
It was further disclosed that the suspect had created a fraudulent bank account in the name of Mahindra Finance Limited, posing as the company’s executive, and had also opened 12 additional accounts without the authorization of the account holders.
“The case is about embezzlement of about 150 crores where 20 accused persons arrested and 15 vehicles seized & several accounts freezed”, the Mizoram Police added.
The case is about embezzlement of about 150 crores where 20 accused persons arrested and 15 vehicles seized & several accounts freezed.
— Mizoram Police (@mizorampolice) July 15, 2024
