One held for bank fraud

Hyderabad: The Cyber Crime Station, Detective department of Hyderabad police nabbed a fake document offender who was allegedly involved in cheating and misappropriate assets case. According to the CCS officials, a complaint had been lodged by IDBI Bank, Basheer Bagh branch against one M Lakshma Reddy and others.

In the complaint, it was stated that the accused obtained loan of Rs 2.80 crore from the bank duly mortgaging the property of Lakshma Reddy and defaulted. In the course of auction, the bank came to know that Lakshma Reddy had obtained loan from Bank of Maharashtra, Sultan Bazar branch by submitting the same fake documents submitted to IDBI bank.