Fraudster cheated PSU banks with fake land papers
Representational image.
Hyderabad: The son of a late IAS officer and his friend were apprehended by taskforce police on Monday for allegedly cheating banks in the city by taking loans using fake documents.
The accused had also cheated a mobile phone outlet saying that they had an order from Defence Research and Development Organisation (DRDO) to supply 67 iPhones.
Vijay Kumar is the son of late IAS officer Bhaskar. According to police, he, along with his friend Murthy, cheated many banks in Hyderabad.
Vijay Kumar, who led a lavish lifestyle with luxury cars, along with Murthy, hatched a plan to cheat banks using fake land documents.
Vijay Kumar used to approach banks in a rented luxury car and apply for a loan. Once the loan was sanctioned he would withdraw the amount and buy a new car.
Police said he took loans from public sector banks in Banjara Hills, Jubilee Hills and Himayath Nagar.
Police said the arrested men targeted only public sector banks to apply for loans, as these banks do not keep track of SIBIL credit record and it was easy for them to evade strict scrutiny unlike private banks.
A few months ago, he purchased two iPhones from a mobile phone shop in Banjara Hills paying cash. After a week, he approached the same outlet and told them that he had received an order from Defence Research and Development Organ-isation to supply 67 iPhones.
He paid half of the amount in cash and gave a cheque for the balance amount and took delivery of the phones.
Taskforce police has reportedly handed over the accused to the Banjara Hills police for further investigation of the crime.
( Source : deccan chronicle )
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