Police Bust Gang Cheating Banks

Nalgonda: A joint task force and the Thipparthi police on Saturday busted a gang that included the CEO of a tech firm that fraudulently secured loans from banks by using forged addresses.

The gang members were identified as Kashamalla Nagaraju of Nalgonda, Kashamalla Kranthi, CEO of Affsoft IT Solution Pvt Ltd and web designer Siluveru Satheesh.

Police said Kranthi, a native of Kurumarthi of Kattangur mandal, suffered losses and took to taking credit cards and personal loans by using fake names.

They edited details on Aadhaar cards of gullible people and created fake employee IDs and salary slips. They used these to obtain PAN cards and fresh SIM cards using which they changed addresses on Aadhaar cards and opened bank accounts with forged documents at five private banks.

They obtained loans and credit cards from five private banks and cheated banks by evading repayment of loans to the banks and utilized the said amounts for their personal needs.

The police seized 27 Aadhaar cards, Rs.2,32,600, 83 PAN cards, 92 credit cards from their possession.

( Source : Deccan Chronicle )
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