Meerut, June 5 -- The Meerut unit of UP Police Special Task Force (STF) on Wednesday arrested the mastermind of an inter-district gang that had been fraudulently financing luxury cars using fake documents and Aadhaar-linked address manipulation. The gang would then sell these vehicles at a profit without repaying the loans, defrauding banks of crores of rupees. The arrested accused, identified as Anangpal Nagar, was apprehended near Krishna Public School on Kila Parikshitgarh Road on Wednesday. The STF recovered a Toyota Fortuner worth Rs.40 lakh from his possession, which had been financed fraudulently. According to STF SP Brajesh Kumar Singh, the team had been receiving inputs about a syndicate active across various banks, taking car loans using fake residential addresses-often rented houses. The gang would manipulate Aadhaar card addresses to match loan paperwork, obtain vehicle loans, and then default on repayments while secretly selling the vehicles to unsuspecting buyers. During interrogation, Nagar confessed that he used to visit multiple banks along with his associates to finance high-end vehicles. After securing the loans, they would vacate the loan-registered addresses to avoid recovery agents or legal notices. A few months later, the financed vehicles would be sold off for profit. The investigation revealed that Anangpal had even gone to the extent of creating a fake Udyam (enterprise) registration in the name of a woman friend. The bogus firm, Preeti Dairy, was registered online, using the address Flat No 601, Ansal Town, Modipuram, Meerut. To maintain a good credit score and avoid suspicion, Anangpal and his associates used fraudulent documents to open multiple bank accounts, manipulating ITRs (Income Tax Returns) and routing money transfers between accounts to create the illusion of legitimate transactions. All these accounts were opened using fake addresses. Singh stated that further inquiries are being conducted to identify and apprehend other gang members involved in the scam. The operation has exposed a well-organised network of financial fraudsters targeting the vehicle finance sector through loopholes in documentation and verification systems. Authorities have advised banks to strengthen verification protocols, especially in cases involving high-value auto loans and newly registered businesses....