Hyderabad software engineer caught for cheating banks
By Joseph Samson
Jun 19, 2008
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Hyderabad police have come across a trio who use their intelligence to cheat banks. The police have nabbed a software engineer, who is the brain behind the whole cheating process, while a search is on for his two accomplices. The three of them have already cheated banks to the tune of Rs 28 lakh by submitting fraudulent documents. The software engineer, Bandi Durga Prasad was working in a firm at Panjagutta in Hyderabad. He joined hands with two others, who helped him in floating a bogus software firm to secure bank loans. They did this with the help of fabricated pay slips of reputed companies.

The trio has been involved with scams in banks including Citibank, Barclays and HDFC to get loans for over Rs 28 lakh. They submitted fake pay slips to show that the listed employees were working in Satyam Computers and drawing Rs 84,000 salary per month.

Cops have arrested Prasad and investigation is on to find the whereabouts of the other two. Cash totalling Rs 6.5 lakh and one laptop have also been recovered from him.

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