Hyderabad: Rachakonda police arrested a gang, which was cheating the banks by taking crores of rupees loans by preparing fake land documents.
The police identified 49 members indulging in these activities and arrested 10 members among them today. The police seized fake documents, stamp papers, rubber stamps, fake ID cards Pahani, Pattadar Pass Books and gift deed documents.
The police identified Marella Srinivas of Mothinagar as main culprit in the gang. Rachakonda Police Commissioner Mahesh Bhagavath said that Marella Srinivas was indulging in these activities since 2006 and facing 17 cases. He said that they found that Marella Srinivas played key role in preparing fake documents to the land located at survey number 190 in Pedda Amberpet gram panchayati limits in Abdullahpurmet limits.
He said that Marella Srinivas colluded with the bank officials and took Rs.70crores from the bank. He said that they inquired the issue deeply with the letter addressed by the one Company from Mumbai.
Bhagavath suggested bank higher officials to give loans only after examining documents thoroughly. He asked bank higher officials to be careful about their staff, which was colluding with cheaters. (NSS)
