One held in bank fraud case

Hyderabad: The detective department sleuths of CCS on Saturday arrested one Manthena Sita Rama Raju ,41, a businessman from Bengaluru for his involvement in a bank fraud case.

According to police, on March 22, 2016, on complaint of Ramachandruni Hanumantha Rao, the branch manager of Andhra Bank in Madhura Nagar, a case was registered under Sections 420, 406, 409, 467, 468, 471, 472, 120-B IPC r/w 34 IPC against Pasham Prashanth, Kolapalli Naveen Kumar, Srinivasa Poojari and others. 

The arrested accused Manthena Sita Rama Raju conspired with other accused and created fabricated documents namely pan card and salary slips etc. He along with the other accused submitted the said fabricated documents at the Andhra Bank for obtaining the housing loan of Rs 1.37 crore.

Subsequently, the accused persons defaulted on the said loan amount and caused loss to the Andhra Bank.