Hyderabad: Police, on Tuesday, apprehended four persons for running an illegal money lending racket. However, the prime accused, P. Elango, remains at large.
Elango had been running the business under the name of Sri Venkateswara Finance, Sai Krishna Finance, Om Ganesh Finance and Sai Akil Finance, without taking permission from the state government, according to the cops.
Elango, who had hired four Tamil Nadu natives Jayakumar (33), Ayyavunadar Peria Swamy (33), Karupaiaya Rajkumar (30) and Darmaraj Sivabalan (22) to look after the offices, had also employed 24 persons to collect the interest amounts from the borrowers.
Based on a tip-off, Jayakumar, Swamy, Rajkumar and Sivabalan were apprehended and Rs 6.83 lakh cash, over a 100 of books containing details of the customers, five blank cheques, and other stationery were seized from them.
