Jamshedpur: In a major breakthrough, police have arrested the alleged mastermind behind a long-running personal loan fraud case that had remained unresolved for years.
Vikash Kumar Jha (48), who had been evading arrest for nearly seven years, was finally tracked down in the Namkum area of Ranchi. He is a key accused in Parsudih Police Station Case No. 82/19 and had managed to avoid capture by frequently changing his location.
Based on specific intelligence inputs, police carried out a targeted operation and apprehended him at Namkum Bazaar Chowk on Thursday. He was later brought to Jamshedpur, where legal formalities were completed before he was sent to judicial custody on Friday.
According to officials, the case involves a carefully planned financial fraud in which people were lured with promises of low-interest personal loans. Victims were persuaded to sign documents under the pretext of loan processing, which were later misused to obtain vehicle loans in their names. The vehicles were then illegally sold, leaving victims burdened with financial losses.
Police had earlier arrested five members of the gang about seven years ago, partially dismantling the network. However, Jha had remained absconding until now, making his arrest a significant development in the case.
Investigators believe that his arrest will help uncover the full extent of the fraud. Authorities have also begun reviewing financial records again and are working to identify more victims who may have been affected by the scheme.