4 Andhra men held for defrauding banks of Rs 2.47 crore in Chennai
C Ekambaram (27), Kesava Gangaraju (25) and S Krishnamoorthy (24) had falsely claimed to be software engineers working for a company named 'Avance Consulting Service Pvt Ltd' and obtained personal loans by submitting forged salary documents made by C Kumar (29).;
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CHENNAI: The Central Crime Branch (CCB) of Chennai police has arrested four persons from Andhra Pradesh for allegedly cheating a bank and other financial institution of at least Rs 2.47 crore by submitting forged documents.
C Ekambaram (27), Kesava Gangaraju (25) and S Krishnamoorthy (24) had falsely claimed to be software engineers working for a company named 'Avance Consulting Service Pvt Ltd' and obtained personal loans by submitting forged salary documents made by C Kumar (29). They secured a loan of over Rs 1.04 crore.
A representative from the bank's Aminjikarai branch found out about the fraud during an internal audit and filed a complaint.
Further investigation by the CCB's Bank Fraud Investigation Wing revealed that the accused similarly obtained loans from multiple financial institutions, resulting in a total fraudulent amount of Rs 2.47 crore.
The accused were secured from Andhra Pradesh and brought to the city. They were produced before a magistrate and remanded to judicial custody. Commissioner of Police, A Arun appreciated the bank fraud investigation team for their efforts in apprehending the accused.
