ED Seizes Luxury BMWs, Mercedes and Land Rovers in Major SBI Car Loan Fraud Investigation

Nov 29, 2025 01:03 pm CST

The Enforcement Directorate has conducted raids across 12 locations in Pune, seizing luxury vehicles including BMWs, Mercedes, and Land Rovers in connection with a sophisticated car loan fraud at State Bank of India. The investigation revealed that borrowers collaborated with bank officials to obtain high-value car loans using forged documents, violating bank lending policies in a scheme that operated between 2017-2019.