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One Arrested in Bank Loan Fraud in Hyderabad

The Hyderabad Police has arrested one individual for cheating bank officials to the tune of Rs. 14, 50,000.

The accused, Jatagi Viswanat was arrested on June 25, after a complaint was lodged by Telangana Grameena Bank (TGB), Senior Manager Balakistaiah.

“The accused plotted the crime with another friend identified as Venu Gopal and obtained a loan of amount Rs. 14, 50,000/- from TGB by mortgaging of property. They produced fake documents to obtain the loan,” officials said in a statement.

Meanwhile, a search operation is underway to nab Gopal, who fled after the crime.

A case has been registered under sections 420, 406, 468, 471 of the Indian Penal Code.

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