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The Thane Crime Branch has dismantled a large-scale vehicle rental and mortgage fraud, arresting Sandeep Raghu Shetty and seizing 32 cars valued at Rs 2.44 crore.
The investigation began after five vehicles were reported stolen at the Wagle Estate Police Station. DCP Amarsingh Jadhav explained that Shetty lured car owners with promises of high rental returns, only to mortgage the vehicles and embezzle the funds.
The operation, believed to span across Maharashtra, led to vehicle seizures from Navi Mumbai and Pune. Authorities suspect additional vehicles may have been fraudulently mortgaged, and investigations are ongoing.
