A second car loan fraud

A second car loan fraud worth hundreds of thousands of dinars has been uncovered in the space of five months, it emerged yesterday. Two Bahrainis, one a car showroom owner and the other a certified pilot, have been arrested, sources told the GDN. They are accused of paying six people to apply for Commercial Registrations (CRs), but then forging the documents to make it appear as though the applicants ran successful businesses.

The pair then used the documents to apply for several car loans from a bank. They allegedly used the loans to buy cars, which they then exported and sold in other countries - netting them an estimated BD240,000 in profits. In a similar case reported by the GDN in April, four men were accused of paying poor people for their personal details, which they then doctored and used to take out loans worth BD200,000.

They then allegedly used the cash to buy luxury cars and drive them out of the country. Sources said the two cases were not connected and revealed the pilot involved in the latest scam admitted paying for his licence with his illegal earnings. “Apparently, they paid BD200 to the six men and asked them to apply for a CR,” said sources.

“After getting the registrations, the two men forged the dates on the documents and the information on them to show that these men had successful businesses and were financially stable. “The forged information was then used to apply for car loans at a bank, which approved several loans. “Through the loans they bought cars which they sold outside the country, earning them around BD240,000 from car sales.

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