Loan frauds racket busted, 18 arrested

Loan frauds racket busted, 18 arrested

Hyderabad, Sept.19 (NSS): SOT Balanagar zone along with KPHB & Kukatpally police have busted an organized racket, who involved in loan frauds by creating fake rubber stamps/documents of GHMC, HMDA, Revenue department, Labour department and so on. They booked two cases and arrested 18 persons.

The police also seized 687 fake rubber stamps of government departments and 1,180 fake certificates, 10 Laptops-10, eight CPUs, eight Monitors, two Printers, one Stamps Making Machine, one Stamps Flasher, 57 Mobile Phones and one two-wheeler, all worth Rs 10 crore and above.

Acting on a tip-off, SOT of Balanagar Zone along with KPHB PS apprehended six accused for involvement in Loan frauds. The accused identified as Ghanta Ranga Rao, 63 years, Stamp Business, residing at Suraram, Medchal District, Shivannagari ManikPrabhu alias Manaiah, 62 years, residing at KPHB Colony (rubber stamp maker), Panchikarla Naga Malleshwara Rao, 37 years, residing at Prashanth Nagar, Kukatpally, Kothapally Sudhakar, 54 years, financial Consultant, residing at Allwyn Colony, Kukatpally, Kagitha Setharama Raju alias Pandu, 37 years, running Xerox shop, residing at Suraram, (printing fraudulent certificates/documents), Kondeti Chandrashekar Rao, 38 years, Architecture, resident of Chinthal, Jeedimetla (tampering Layout plans).

In housing loan process, the customer loan file with deviations and irregularities will be rejected as per the norms. The customer will approach loan consultants and agents for housing loans. G. Ranga Rao was using fake rubber stamps and documents at Jeedimetla PS (2005) and Meerpet PS (2012). Ranga Rao was rectifying the deviations and irregularities in a fraudulent manner by using fake rubber stamps and documents of various Government departments.

Manik Prabhu was making fake rubber stamps as per Ranga Rao’s requirements. Sudhakar and Naga Malleshwar Rao are loan agent. Seeta Rama Raju creates fake roceedings of documents, Chandra Shekhar was tampering the layout/building plans.

Vaka Nagi Reddy, S/o. Appa Reddy, Age: 24 yrs, Occ: Director of ABL Loans Pvt. Ltd., R/o. Kukatpally. (Owner of ABL Loans); Karimi Shanmukha Rao, S/o. Raju, Age: 37 yrs, Occ: Director of Nidhi Associates, R/o. Jagadgirigutta. (Owner of Nidhi Associates); Kolli Rama Raju, S/o. Venkat Rao, Age: 36 yrs, Occ: Director of RR Associates, R/o. Jagadgirigutta. (Owner of RR associates); Donthula Manikanata, S/o. Late Prasad, Age: 33 yrs, Occ: Owner of DMK Assocaites, R/o. Kukatpally. (Owner of DMK associates); Revuri Dora Babu, S/o. Gopala Krishana, Age: 36 yrs, Occ: Free Lancer Business, R/o. Jagadgirigutta. (Agent); Botsa Mahesh, S/o. Late Thavi Naidu, Age: 28 yrs, Occ: Free Lancer Marketing, R/o. Zinnaram(m), Sanga Reddy. (Agent); Laxman Rakesh Kumar, S/o. Late Suraj Kumar, Age: 29 yrs, Occ: Free Lancer Marketing, R/o. Mallampet (v), Medchal.(Agent); Metnala Chanti, S/o. Late Ankaiah, Age: 31 yrs, Occ: Team Lead at ABL Loans Pvt. Ltd., R/o. Kukatpally. (ABL Employee); Purimetla Naveen Kumar, S/o. Sommanna, Age: 28 yrs, Occ: Team Lead at ABL Loans Pvt. Ltd., R/o. Kukatpally. (ABL Employee); Daspally Veera Babu, S/o. Daspally Chinna, Age: 23 yrs, Occ: Employee at DMK Associates,  R/o. Erragadda, Hyd. (DMK Employee); Gollamudi Ram Tiwari, S/o. Chalapathi Rao, Age: 32 yrs, Occ: System Operator at DMK Associates, R/o. Kukatpally. (DMK Employee) and Kolli Shankar Rao, S/o. Krishana Rao, Age: 26 yrs, Occ: Exective at RR Associates, R/o. Jagadgirigutta. (RR Employee).

In business loan process, the customer loan file with deviations and irregularities will be rejected as per the norms. The said customer will approach loan consultants and agents for business loans to overcome the irregularities. Accused A1 to A4 are loan consultants and owners of agencies in Kukatpally area, A5 to A7 are loan agents, A8 to A12 are employees of loan consultants. The customer approaches loan consultant and agents for business loan process, these agents will identify the irregularities and approach the loan consultants for creating fake rubber stamps and documents as per the irregularities. For loan process these associates need to tie up with other licenses agencies, in this process these agencies will receive 2% to 3% as per loan amount and they charge around Rs. 10,000/- processing fees per customer. In association with agents they process the loan files of the customers.

            Due to frequent irregularities these associates along with agents hatched a plan to overcome it by creating and signing fake documents/certificates by using fake rubber stamps of labour department and other documents etc and executed their plan and earning money in wrong full manner.  In this case the role of other agents, Bankers, Advocate panels and Valuators need to be verified. Police seized 535 fake certificates, 27 fake stamps, nine Laptops, 49 Mobile Phones, six CPUs and six Monitors.

The arrests were made under the supervision of L&O DCP Balanagar Srinivas Rao, IPS., DCP SOT Rasheed, Addl DCP SOT Balanagar Zone Shoban Kumar. The good work done by SOT Balanagar Zone team along with KPHB and Kukatpally PS made enormous efforts in apprehending the accused persons and they deserve to be appreciated and rewarded suitably.

The police appealed to the citizens to inform them pertaining to any information related to Fake Certificates/Documents through Dial 100 or Cyberabad Whatsapp number 9490617444. Their identity will be kept confidential.

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