Six persons of a gang have been arrested for fraudulently withdrawing over Rs 70 lakhs from various banks in Chinhat area here, the police said on Thursday.
The gang has been creating accounts in various banks on fake identity and then take loans, they said.
Those arrested on Wednesday were identified as Mithileshwar Kumar Singh his wife Shashi Singh, Vinay Kumar Singh, Sunil Kumar Singh, Anoop Kumar Singh and Arvind Kumar Singh.
The members opened an account in a bank in Chinhat and introduced themselves as proprietors of a car showroom and later took loan from different banks.
The gang used to transfer the car loan amount to the forged showroom account and withdraw it later.
They had managed to get the loans sanctioned for atleast 10 vehicles, the police said, adding that they were probing the matter further to ascertain whether any bank official was involved in it or not.