Conman held in Secunderabad for cheating victims with fake loan promises

Ramgopalpet police arrested a man accused of cheating several people by promising to arrange bank loans. The accused collected large processing fees from victims. Police seized cash and a car and froze bank funds during the investigation.

Hyderabad: The Ramgopalpet police on Saturday arrested a conman who cheated several persons of crores of rupees on pretext of providing loans.

The arrested Bharath Sai Chandra, (30), duped people on pretext of arranging loans from banks and collected huge amount from them towards processing fee.

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“Bharath took Rs 10 lakh and 16 tolas of gold from a woman, assuring to provide a house loan over Rs 2.80 lakh,” said Additional DCP (Secunderabad), J Narasiah.

On a complaint, the police registered a case and arrested Bharath Sai. The police seized Rs 4 lakh cash, a car and freezed Rs 4 lakh in bank.