Hyderabad: Couple arrested for duping bank of Rs 5.3 crore

The arrested persons were Pabanthi Prabhakar (47) and Pabanthi Saritha (42), residents of Shaikpet

Hyderabad : A couple who allegedly duped a bank of Rs 5.3 crore by obtaining loans submitting false documents was arrested by the Cyberabad Police on Wednesday. The arrested persons were Pabanthi Prabhakar (47) and Pabanthi Saritha (42), residents of Shaikpet. Police said they submitted documents at Indian Bank, Shadnagar and availed a loan to the tune of Rs 5.3 crore.

“The duo obtained the loan fraudulently by submitting false documents like salary slips and Form 16 to the bank,” the Shadnagar police said, adding that the fraud came to light when they failed to repay the loan. Bank officials lodged a complaint with the Shadnagar police after which the couple was arrested and produced before court. Prabhakar was previously involved in six similar cases in various police stations in Cyberabad and Rachakonda.

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