Hyderabad: Woman fraudster arrested for cheating SBI bank

Hyderabad: The Detective Department (DD) of Central Crime Station (CCS) on Thursday arrested a woman for cheating the SBI bank to the tune of Rs 6 crore. The accused was identified as R Srilatha.

According to police, the accused woman and her husband approached the SBI bank of SME branch in the year 2010 and submitted fake documents of properties in Uppal Bhagayath village, Ranga Reddy district and obtained cash credit loan of Rs 3.02 crore through equitable mortgage for their business M/s Croma Automotive development by representing themselves as partners.

As the duo failed to pay the EMI's in time, the bank started the recovery process. During the course of recovery, the bank officials found that the collateral properties furnished by the firm were fictitious. D Ram Prasad, Inspector of police, special team who led the arrest said, "By adopting the similar modus operandi the accused duo during the period 2004 to 2012, cheated the same bank and obtained loan of Rs 3 crore by submitting fake properties which is agriculture land admeasuring 5 acers 37 guntas in Maheshwaram, six plots at Sarswathi Nagar colony, Uppal." However, the accused woman was arrested under sections 406, 420, 465, 468, 471 of IPC r/w 34 of IPC.