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Two held for running illegal bank in Uttar Pradesh

Last Updated: Tuesday, March 26, 2013 - 17:45

Bulandshahr : Two persons have been arrested here for allegedly running illegal banking services for the past more than three years, police said today.

The accused--Saqib and Rizwan-- of Dhamera Adda locality were arrested yesterday, Police Circle Officer Vaibhav Krishna said. The two had been running an "interest-free bank" by the name `Al-Amanat Fund` since 2009 without any licence and had about 250 account holders with a total deposit of Rs 80 lakh, he said.

For the past some time, the company had stopped clearing cheques. Aggrieved over the matter, some account holders yesterday held Saqib and Rizwan hostage and took them to a nearby village.
When the police learnt about the incident, they rescued the two and arrested them with their kidnappers, said Krishna.
As none of the account holders complained against Saqib and Rizwan, police took suo-moto action against them and their kidnappers and presented them before the court of the sub-divisional magistrate, Krishna added.


First Published: Tuesday, March 26, 2013 - 17:45
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