Loan fraud accused held in Secunderabad

Metro India News | Hyderabad 

Ramgopalpet police arrested a 30-year-old man for allegedly cheating a woman of Rs 10,69,800 and 190 grams of gold jewellery on the pretext of arranging a bank loan of Rs 2.8 crore. The accused, Turikepalli Bharath Sai Chandra, was apprehended on on Friday near Fatehnagar bridge in Secunderabad while travelling in a Ford Endeavour car. The case was registered under FIR No.36/2026 under Sections 316(2), 318(4) r/w 3(5) of the Bharatiya Nyaya Sanhita (BNS).

According to police, the case was registered on March 2 based on a complaint lodged by Rakhi Jain, 46, a resident of D.V. Colony in Hyderabad. She stated that the accused falsely claimed to be an employee of IDFC Bank’s Jubilee Town branch and promised to arrange a loan of Rs 2.8 crore. He was allegedly introduced to her by a manager of Utkarsh Bank.

Believing the claims, the victim paid Rs 10,69,800 through cash and online transfers and also handed over about 190 grams of gold jewellery as documentation charges. Later, she realised that no loan had been sanctioned and that she had been cheated.

Police arrested the accused following credible information about his presence at Fatehnagar bridge. During the operation, police recovered a Ford Endeavour car, an Apple iPhone 17 Pro, Rs 4 lakh in cash and a gold biscuit weighing about 160 grams. Police are also taking steps to freeze another Rs 4 lakh in the accused’s bank account.

Police said the accused has a criminal history and is involved in eight other cases across Hyderabad, Cyberabad, Malkajgiri and Khammam commissionerates. Investigation is continuing.