Three held for cheating banks of over Rs one crore
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Last Updated: Sunday, January 22, 2012, 20:52
Hyderabad: City police on Sunday nabbed three persons for allegedly cheating various banks to the tune of Rs 1.07 crore by floating fictitious software firms.

The three accused allegedly floated fictitious software firms, created fake salary base, obtained PAN and credit cards and managed to secure loans to the tune of Rs 1.07 crore by using them as identities, police said.

"They created fake employee base by obtaining various photographs, created appointment letters, opened salary accounts, deposited salaries. With the bank statements, salary ID proofs, they also obtained PAN cards, credit cards in the name of employees.

"They utilized the credit cards for various purchases and also obtained personal loans, vehicle loans from as many as 18 nationalized and other banks to the tune of Rs 1.07 crore," they said.

The three persons were apprehended by the policemen on the basis of a tip-off. Two cars, about 14 tolas gold ornaments, three two wheelers, 150 cheque books, 120 fake and forged identity cards, 29 bank account pass books, 170 debit and credit cards, 75 PAN cards, eight voter ID cards, 21 mobile phones, six computers, one television, valuable furniture and net cash of Rs 3,06,000 were seized from them, police said.


First Published: Sunday, January 22, 2012, 20:52

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