Hyderabad: Two held for cheating businessmen

According to the police, Saddan Ansari whose earning through eatery, decided to earn money the easy way, therefore falsely promised business loans on commission basis to businessmen

Hyderabad: The Madhapur police arrested two persons on charges of cheating people on pretext of providing business loans.

The arrested persons are Mohd Saddan Ansari from Lucknow in Uttar Pradesh and Shazi Ahmed Siddiqui, from Mumbai. While the absconding accused are Durgesh, Prathiba Agnihotri, Prashanth Sudhir, Navneet Verma, Kiran Kumar, Sarah, Jayantha Chatterjee, Arvind, Jugali Masurekar, Amna Ansari and Priyanka Dixit.

---

According to the police, Saddan Ansari whose earning through eatery, was not proving to be sufficient, decided to earn money the easy way, therefore falsely promised business loans on commission basis to businessmen.

He shared his plan with Shazi Ahmed Siddiqui and rest of the suspects, who agreed to support him. As per their plan, they setup an office at Coloba in Mumbai and collected contact numbers of businessmen who required loans.

“Saddan Ansari introduced himself as director of the company and remaining suspects as assistants, partners, accountants and office subordinates to the businessmen to gain their confidence,” said a senior police official.

He cheated a city based businessman to the tune of Rs 1.5 crore promising to process Rs 150 crore business loans to develop his solar cells manufacturing business.

Based on the complaint, the Madhapur police booked a case and arrested them.