Hyderabad: Couple swindles bank of 5.3 crore, arrested

Hyderabad: The cybercrime wing of Cyberabad police on Wednesday arrested a couple for allegedly cheating a bank in tune of Rs 5.3 crore by submitting fake documents and availed a loan.

The accused couple were identified as, Prabhakar and Sarita. According to police, the accused couple cheated Indian Bank of Shadnagar branch by submitting fake salary slips and Form 16 to avail a loan amount of Rs. 5.3 crore by informing the bank officials that they were intending to start a business.

However, their fraud came to light when the couple failed to repay the EMIs and then the bank officials filed a police complaint. Based on the complaint, a case under Sections 419 & 420 of IPC was registered and the accused were arrested and produced before the judicial magistrate, said the police. The court ordered 14 days of judicial remand.