Hyderabad: Rachakonda police on Sunday busted a gang of four members that had duped several gullible youth on the pretext of providing jobs and cheated financial institutions by obtaining debit and credit cards using fake documents including PAN and voter ID proof.
The Rachakonda police Special Operations Team (SOT) went after the gang following a tip about 15 days. The suspects were identified as Potireddy Chandrashekar Reddy alias Chandrashekar Reddy (30), Yadagani Balaji (26), Nakkinti Subash Kuma (24) and Kagitala Habeeb alias Shaik Kakital Habeeb (32).
Police said the prime suspect, Chandrashekar Reddy, was well-versed in preparing fake documents, a skill which he acquired while pursuing BTech, and hatched a plan along with his accomplices to cheat innocent job seekers and financial institutions by floating fictitious companies.
The gang along with few unknown persons acted as the employees of fake companies named Xevax Pharma Private Limited, Stannum IT Solutions Private Limited, and Haptic Technologies Private Limited, and availed credit cards and loans by showing the employees as bonafide employees of the companies.
“They used to open salary accounts and genuinely pass credits showing as if salaries were drawn from the company. They also stage-managed by creating relevant salary records when the bank field officers visited their offices for verification,” said Rachakonda Commissioner Mahesh M Bhagwat.
Even, the suspects registered the firms with Registrar of Companies despite not having any genuine operations.
“This way they obtained loans and credit cards from reputed banks such as HDFC, IndusInd, Kotak, Ratnakar Bank Limited and finance companies such as Capital First and Bajaj Finance to the extent of Rs.50 lakh,” he said.
The gang also plotted to woo job seekers on the pretext of providing job opportunities in software companies and collected Rs 50,000 from each. For issuing fake experience certificate, an amount of Rs 25,000 was collected by them.
The Commissioner said they had duped around 200 people in this manner till now. “They made fake identities of job seekers who approached them and obtained credit and debit cards,” he said, and added that they also borrowed money from the online mobile app based lenders CASHe and Earlysalary.
Police seized as many as 50 debit and credit cards with fake identities, PAN cards, voter ID cards, two laptops, six mobile phones and few cheque books, besides Rs 5 lakh from their possession.