Dindoli police in Surat have arrested Pankaj Patil, a loan agent accused of cheating a diamond worker and ten others of Rs 19.45 lakh. Patil allegedly used their documents to buy expensive mobile phones and then defaulted on repayments.
The latest victim, Yogesh Mali (25) from Katargam, approached Patil for a personal loan. Patil persuaded him to take a consumer loan instead, claiming it was cheaper. Using Mali’s documents, Patil purchased three high-end phones from different stores in Surat in 2024 and kept them. Although Patil paid instalments for about 10 months, he later stopped payments.
Police revealed Patil used a similar modus operandi to defraud ten other victims during 2023 and 2024. He would either sell or mortgage the phones and pocket the money.
The seized mobiles, including iPhones and Samsung models, are collectively worth Rs 19.45 lakh. The police continue their investigation.
