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10 held for cheating banks with fake land documents in Hyderabad
The Rachakonda police arrested members of a gang, which was cheating the banks by taking crores of rupees as loans by preparing fake land documents
Hyderabad: The Rachakonda police arrested members of a gang, which was cheating the banks by taking crores of rupees as loans by preparing fake land documents.
The police identified 49 members indulging in these activities and arrested 10 gang members on Saturday. The police further seized fake documents, stamp papers, rubber stamps, fake ID cards, Pahani, Pattadar passbooks and gift deed documents.
The police identified Marella Srinivas of Mothinagar as the kingpin of the gang. Rachakonda Police Commissioner Mahesh Bhagavath said that Srinivas was indulging in these activities since 2006 and facing 17 cases. He said that they found that Srinivas played a key role in preparing fake documents of the land located at survey number 190 in Pedda Amberpet gram panchayat limits in Abdullahpurmet limits.
The Commissioner also added that Srinivas colluded with bank officials and availed Rs 70 crore loan. Stating that they started the inquiry into the issue deeply after they received a letter addressed by the one company from Mumbai, Bhagavath suggested the bank officials to sanction loans only after examining documents thoroughly. He asked higher officials of the banks to be careful about their staff, which was colluding with cheaters.
