CHENNAI: Greater Chennai Police on Saturday said they have arrested four persons hailing from Andhra Pradesh in connection with a case of defrauding HDFC bank of Rs 2.47 crore using fabricated documents.
According to the police, the Central Crime Branch (CCB) initiated investigation based on a complaint filed by Dhivyan from the bank. The complaint said Kesava Gangaraju (27), S Krishnamoorthy (24) and C Ekambaram (27) had obtained personal loans from the bank to the tune of Rs 1.04 crore by providing fake papers like pay slips which were created by another accomplice Kumar (29). The trio had represented itself as employees of a firm, Avance Consulting Service Pvt Ltd.
The bank’s complaint, which was based on their audit, showed that the accused had allegedly cheated other financial institutions to the tune of Rs 2.47 crore in a similar manner. Based on the complaint, CCB arrested the four accused and remanded them to judicial custody. The investigation is under way to identify the other accused who had received funds from the accused.