HYDERABAD: The Central Crime Station (CCS) police arrested three persons in connection with a bank fraud case registered in 2016. They allegedly helped a person in availing Rs 5 crore bank loan by providing him with fake and fabricated documents that were submitted to the bank as collateral security.
The arrested persons are identified as Babu Rao, Indrakaran and Srikanth. All are brothers and residents residing under Balapur police limits.
After the police registered a case in 2016, they arrested Vimal Goel last year for duping Syndicate Bank by submitting fake documents and obtaining a loan. During Goel’s investigation, it was revealed that the documents were prepared by the three accused with the assistance of revenue officials.
“At the time of sanctioning of loan, the legal adviser of the bank failed in verifying the documents of the properties that were pledged with the bank. Following the negligence of the legal officers, we have served notices to them asking them to explain why they allowed fake documents for sanctioning the loan,” said the police.