Police nab cheaters' gang, recover Rs 20 lakh

Hyderabad, Jan 22 (INN): The North Zone team of Commissioner's Task force on Sunday arrested three persons on the charges of cheating innocent loan seekers.

City Police Commissioner AK Khan told reporters that the arrested accused ' Syed Shakeel (52), R Vinay Kumar (29) and P Suresh Kumar (34) have allegedly cheated several innocent people who were in need of loan money to the tune of about Rs 60 lakh.

According to Khan, Syed Shakeel used to poses as an advocate while his associates Vinay Kumar and Suresh Kumar used to act like property valuers and assist him in the cheating.

They used to attract the people in need of money through ads in news papers that they would arrange huge loans and they can provide collateral security and cheat them.

Using this modus operandi they collected Rs 24 lakhs from a person at Marredpally who was in need of Rs. 5 crores loan to set up power project at Uganda and cheated him.

They have also collected Rs 9 lakhs from a person of Musheerabad who was in need of Rs 2 crores loan for a research project. The accused also cheated a person by collecting Rs 12.8 lakhs at Bowenapally by luring him to arrange gold at cheaper rate from Singapore Country.

Police claimed that the accused have confessed of another modus operandi wherein they collected money from the victims on pretext of taking DD for 1 per cent stamp duty to the value of the asset and fled away.

By this way the accused collected Rs 2.30 lakh from a person of ECIL, Rs 1.05 from a person of Balanagar, Rs 1.10 from a person of LB Nagar, Rs 1.80 from a lady of Dilsukhnagar, Rs 1.85 lakh from a person of Moulali, Rs 3.20 from a person of Cherlapally and Rs 1.30, from a person of Begumpet.

The accused also confessed to have cheated and collected Rs. 2.8 lakh from a person of Karmanghat with a promise of getting seat in Deccan Medical College and he also further confessed to have given ads in news papers in Bangalore and fraudulently taken amounts from innocent unemployed youth ranging from Rs 7,000 to Rs 10,000.

The Police Commissioner said that the above victims were yet to be traced and requested to approach the Commissioner's Task Force for assisting in the investigation.

With the money gained through cheating the accused Shakeel purchased one Verna for his use, one Micra Car for his wife and one Yamaha FZ vehicle for his son and was leading a lavish life.

He also gave his i10 car and Pulsar Motorcycle to Vinay Kumar as commission. Police have seized three cars - Verna, Micra and i10 and three bikes, all worth of about Rs 20 lakhs, cash Rs. 10,400 , a gold chain, gold ring, 11 cell phones and relevant documents from their possession.

The arrested accused persons along with seized property were later handed over to Bowenpally Police Station for necessary action.