NEWS & ADVICE : HOME LOANS
Hyderabad software engineer caught for cheating banks
By Joseph Samson
Jun 19, 2008
Print    Email    RSS   

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.


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Home Loan: A way to reduce your taxable...
Admissible deductions under Section 80C
Your EMIs may help you to reduce your tax...
Property: A good investment option to...
Complete Guide to the Home Loan Process in...


PINJORE: CaℒL Giℛℒs In PiNjOrE 09915787550...
PINJORE: CaℒL Giℛℒ In PiNjOrE 09915787550...
how to gate my home loan certificate

NEWS THIS WEEK
Canara Bank earned a profit of 60%. Feb 6, 2015
New Branch of Laxmi Vilas bank at Vijayawada Jan 30, 2015
Home loan EMIs expected to drop down Jan 21, 2015
Corporation Bank received MSME banking excellence award 2014 Jan 19, 2015
Home loan rates set to fall, after reduction in repo rate Jan 16, 2015
News Archive