ISLAMABAD: The Islamabad Capital Territory (ICT) Police have thwarted a gang’s bid to sell Rs200 million (Dh4.75 million) worth of rented motor vehicles here. The police, acting on a tip-off, raided a house in Sector F-15/1on Tuesday, where a company was allegedly selling some 36 luxury cars and jeeps hired on rent. A police spokesperson said the fraudulent company had put up the cars for sale in some national dailies at rates far below market prices.

The police, he said, frustrated the gang’s move and impounded eight cars — amounting to around Rs25 million — under section 550 of the Pakistan Penal Code. He said after verifying the cars, police contacted the owners. Replying to a query, the spokesperson said police were at a sensitive stage of investigation to unearth the gang’s entire network, adding that more action would be taken after the aggrieved parties filed complaints against the accused.

According to initial reports, the spokesperson said the gang operated a fake company under the name Deep Drill Private Limited through which they allegedly enticed people to buy high-end vehicles at low prices.

He said the gang’s modus operandi involved hiring vehicles on rent and advertising them for sale. In their latest act, they had invited interested parties to buy some 36 cars value at approximately Rs200 millions. The spokesperson said further investigations were under way and more revelations were expected.