Borivali Man Arrested for Renting and Pawning Cars in Mortgage Scam

Mumbai, India: The MHB police in Borivali have arrested Pravin Misal, 37, for running a fraudulent car mortgage scam, deceiving multiple car owners to finance his extravagant lifestyle.

Misal allegedly rented cars from individuals and illegally mortgaged them to unsuspecting buyers, leaving the original owners without their vehicles. The scam came to light when victims reported that their cars were never returned.

One of the complainants, a 27-year-old second-hand car trader, rented his Creta to Misal for ₹30,000 in 2023. Misal initially extended the rental but later stopped responding. An inquiry led to the shocking discovery that Misal had pawned the vehicle to a woman in Dahisar. Further investigations revealed that he had duped several others using the same scheme.

Following multiple complaints, the MHB police launched an investigation and arrested Misal on February 28 after obtaining court permission. He has been booked under relevant sections of the law, which carry a punishment of up to seven years.

Police are now working to identify more victims and recover the scammed vehicles.