Hyderabad: A 47-year-old former constable was arrested by the Cyberabad police for harassing people who borrowed money from him and for extorting huge amounts from them. Nagulu, who was a constable at Khammam was dismissed for illegal activities. He operated a finance business like the one of ASI Mohan Reddy in Karimnagar.
Police said that Challa Nagulu, lent Rs 24 lakh to one of his victims in KPHB on Rs 2 per Rs 1,000 interest. At the time of giving the money, he took blank bond papers and blank cheques with the victim’s signatures as surety. After 10 days, Nagulu came to the victim and forced him to sign bonds and took 12 more signed blank cheques.
“The victim paid back the Rs 24 lakh but Nagulu did not return the cheques and the bond papers which he took and collected Rs 1,07,50,000 from the victim,” ACP Bhujanga Rao said, adding that he also threatened to kill the victim’s son.
“He used to give loans at high rates. Even after getting back the money, he used to collect huge amounts forcibly,” the ACP said. Nagulu was to judicial custody.
