Mancherial: Two persons were arrested for allegedly cheating the Naspur branch of State Bank of India by pledging imitation of jewelry to avail loans to the tune to Rs 1.01 crore. They were produced before the media in Naspur mandal centre on Thursday.
Briefing the media about the case, Mancherial Assistant Commissioner of Police Akhil Mahajan said the accused were Rangu Arun Kumar, appraiser of gold ornaments at the branch and his friend Amma Santhosh Kumar. They were arrested when they were moving suspiciously in Naspur during a vehicle check.
Four others, Mankena Laxma Reddy, Kongala Linga Reddy, Bomma Anwesh and Kade Jeevan are still at large.
During interrogation, Arun Kumar confessed to the crime. He admitted that he had availed a loan of Rs 33.72 lakh by pledging gold plated ornaments.
He revealed that he had also helped his friends Anwesh, Laxma Reddy, Linga Reddy, Santosh and Jeevan in taking gold loans worth Rs 68 lakh using imitation jewelry.
The crime was exposed when SBI officials recently realised that the appraiser was cheating the bank. The branch manager lodged a complaint with the police and a case was registered against Arun. Further investigations are on.
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