Nizamabad: Cops Crack Down on Illegal Financiers, Rs 68 Lakh in Cash Seized
Raids across 3 divisions uncover unlicensed financiers, documents, and vehicles.
Nizamabad: In a crackdown on illegal moneylending operations, police on Thursday raided unauthorised financiers across Nizamabad, Bodhan, and Armoor divisions, seizing over Rs 68 lakh in cash and a large cache of financial documents.
Acting on the orders of Commissioner of Police P. Sai Chaitanya, special teams carried out simultaneous raids at residences and offices of suspected moneylenders operating without valid licenses or registrations.
The operation led to the seizure of Rs 68.22 lakh cash, 1,435 promissory notes, 31 financial agreements, 30 bond papers, and three vehicles, police said.
Preliminary investigations revealed that several individuals had been running illegal finance businesses, taking advantage of people in urgent need of money and charging exorbitant interest rates.