Loan fraud racket busted in Peddapalli

Producing the accused before the media at Godavarikhani on Friday, Commissioner of Police V Satyanarayana explained the gang’s modus operandi

Peddapalli: The Ramagundam Commissionerate Police busted a gang that got crop loans sanctioned for people with the help of fake documents and detained 12 of its members. Fake passbooks, Rs 5.55 lakh, rubber stamps, and pahani, 1-B and other documents were recovered from them.

Producing the accused before the media at Godavarikhani on Friday, Commissioner of Police V Satyanarayana explained the gang’s modus operandi. About Rs 1.99 crore was lent to 153 people in Ramagiri and Mutharam branches of Telangana Gramina Bank during the financial years 2016-18.

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As not a single farmer repaid the amount even after issuing notices in December 2020, bank manager cross-checked the land documents with the tahsildars concerned.

As the documents found to be fake, the manager lodged a complaint with the police, following which the CCS police had conducted an investigation and detained 12 persons.

A native of Maidambanda of Mutharam mandal, Pandula Prabhakar, the kingpin, worked as a car driver to the bank manager of the Centenary Colony branch of Telangana Gramina Bank between 2016 and 2019.

During that period, he enquired about the process of availing loans and began providing loans to people by creating fake land documents with the help of others.

The arrested were Biyani Ravinder (40), Peyyala Ramesh (38), Narahari Anil Kumar (30), Kukkadapu Ashok Kumar (32), Madige Sadanna (50), Gattu Bhumaiah (38), Yenreddy Satyanarayana (53), Nune Rajender (32), Dodla Srinivas (29), Garikanti Sadaiah (40), Dumala Praveen Kumar (33). Five others are on the run. Madige Sadanandam is the VRO of Arenda in Mutharam mandal.

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