Hyderabad: One arrested in bank loan fraud
The Hyderabad Police has arrested one individual for cheating bank officials to the tune of Rs. 14, 50,000.
Hyderabad: The Hyderabad Police has arrested one individual for cheating bank officials to the tune of Rs. 14, 50,000.
The accused, Jatagi Viswanat was arrested on June 25, after a complaint was lodged by Telangana Grameena Bank (TGB), Senior Manager Balakistaiah.
"The accused plotted the crime with another friend identified as Venu Gopal and obtained a loan of amount Rs. 14, 50,000/- from TGB by mortgaging of property. They produced fake documents to obtain the loan," officials said in a statement.
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Meanwhile, a search operation is underway to nab Gopal, who fled after the crime.
A case has been registered under sections 420, 406, 468, 471 of the Indian Penal Code. (ANI)