Loan fraud racketeering dismantled in Peddapalli

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Peddapalli: Police at Ramagundam Police Station dismantled a gang that obtained sanctioned harvest loans for people using false documents and detained 12 of its members. Fake booklets, Rs 5.55 lakh, rubber stamps and pahani, 1-B and other documents were recovered from them.

Producing the defendants to the media in Godavarikhani on Friday, Police Commissioner V Satyanarayana explained the gang’s modus operandi. Approximately Rs 1.99 crore was loaned to 153 people in Ramagiri and Mutharam branches of Telangana Gramina Bank during fiscal year 2016-18.

As no farmer repaid the amount even after issuing notices in December 2020, the bank manager cross-checked the land documents with the concerned tahsildars.

As the documents were found to be false, the director lodged a complaint with the police, after which the CCS police investigated and arrested 12 people.

Originally from Maidambanda de Mutharam mandal, Pandula Prabhakar, the kingpin, worked as a car driver with the banking manager of the Centenary Colony branch of the Telangana Gramina Bank between 2016 and 2019.

During this period, he inquired about the process of getting loans and started giving loans to people by creating fake land documents with the help of other people.

Those 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 Arenda’s VRO in Mutharam mandal.


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