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6 arrested for cheating private bank of Rs 1.95 Cr
A six-member gang including 3 outsourcing employees working with various government departments were arrested on the charges of drawing Rs 1.95 crore from a private bank by producing fake documents and pay slips. The cops recovered one motor cycle, a laptop, and pen drive from them.
Kadapa: A six-member gang including 3 outsourcing employees working with various government departments were arrested on the charges of drawing Rs 1.95 crore from a private bank by producing fake documents and pay slips. The cops recovered one motor cycle, a laptop, and pen drive from them.
The accused were identified as SK Abdul Gafar, V Anthony Babu, S K Mahabub Basha, M Balaiah, J Rajasekhar, and C Hari belonging to various mandals in the district.
Addressing press conference here on Saturday, Kadapa DSP S K Masum Basha said the key accused Abdul Gafar used to introduce himself to the public as an employee in Kadapa-based private firm called ‘Way to Wealth Brokers Private Limited’ and made them believe that he would facilitate loans to them from various banks. The DSP stated that he collected Aadhaar, PAN and ration cards from 42 illiterate persons, who were daily wage labourers and street vendors.
Gafar had enrolled them as employees of the Way to Wealth Brokers Company Limited. Later, he created fake documents and pay slips in the name of them and submitted the same to a private bank and secured Rs 1.95 crore as a loan.
After three months, the bank authorities sent the notices to the borrowers for not paying monthly instalments but there was no response from them. Suspecting fraud, the bank officials registered a complaint with the cops.
