Eight held for duping banks

The accused have been identified as Vedanth alias Prashanth B, N Raja, Padmanabha C N, Lokesh A P, Santosh Kumar M alias Pavan Raj, Latish, Gajendra Kumar C alias Appu, and Madesh M V alias Mahesh. Police said that all the accused are aged between 25-35 years and are well educated. Some of the accused are graduates while some have completed courses like M.Tech, MSW and BE courses.

The officials of the Syndicate Bank near Basaveshwara Circle had filed a complaint recently that the bank was cheated by a person who took a home loan of Rs. 64 lakh by submitting fake documents. Based on the complaint, the police gathered information about the accused and they were arrested.

“The accused introduced themselves with false names and claimed they worked in reputed companies. They furnished fake documents such as ID cards, salary slips, IT returns, voter ID and other documents and applied for housing and vehicle loans. Some of the accused in the racket created fake documents while the others worked as agents who helped people to get loans on fake documents. Investigations so far have revealed that they have cheated several banks for crores of rupees,” the police said. Fake documents, computer, laptop, mobile phones, two two-wheelers, a Maruti Swift car, and 238 grams of gold jewels worth Rs 6 lakh purchased from the ill gotten money and cash Rs 2.7 lakh have been recovered from the accused. Further investigations are on.