1 Held For Obtaining Swiping Machine By Giving Fake Hotel Registration

Banashankari police have arrested a fraudster who was cheating by getting a swiping machine by giving fake hotel documents. Navneet Pandey is the arrested accused. Navneet Pandey from Uttar Pradesh came and lived in Banashankari, Bengaluru.
He is an engineering graduate and could have made a better life if he had worked in a good place. But he left his work halfway and took a detour to make a quick buck. And he has just gone to jail for the mistake of using excessive intelligence to cheat.
The plan he had made for this fraud was to get a credit card of an acquaintance and give a loan through it. He used to transfer that money to his account and give cash. He was making profit by converting the commission money received there and the reward points of the credit card into cash.
In this way, he got a loan on about 180 credit cards. The first person used the second person's credit card to repay the loan. Police sources said that he gave loans to more than 180 people.
Also, a POS machine i.e. a swiping machine is also required to use a credit card. That swiping machine was obtained illegally. That means he was submitting a Form 3 application to the bank in the name of another hotel. The police informed that during the investigation they came to know that he was cheating by using fake seal.