ANANTAPUR: As many as four persons were arrested in Anantapur for cheating HDFC Bank by fraudulently pledging customer gold ornaments at a private finance company and pocketing the money, Deputy Superintendent of Police (DSP) V Srinivasa Rao said on Monday.
The arrests were made following a complaint lodged by HDFC Bank branch manager P Venugopal Reddy. The accused, including two former bank employees, were apprehended by the Fourth Town Police.
Addressing a press conference at the Fourth Town Police Station, DSP Srinivasa Rao identified the accused as Venkatampally Satish Kumar (28) of Rani Nagar, Boya H Jayaramulu (30) of Konampally village, Saya Sai Krishna (28) of Kalyanam Durgam Road, and Boya Srinivasulu alias Seena (24) of Nandamuri Nagar.
Satish and Jayaramulu, former employees of HDFC Bank, colluded with Keerthana Finance Manager Naresh to divert customer gold meant for the bank.
Instead of depositing it at the bank, they pledged it at Keerthana Finance in their own names.
Later they misled customers by claiming their gold loans were being renewed.
The fraudulent pledges included 330 grams in Jayaramulu’s name, 650 grams in Srinivasulu’s name, and 1,200 grams in Sai Krishna’s name.
The police started an investigation based on the bank’s complaint and arrested the accused. District SP praised CI N Jagadish, SIs Vijayabhaskar Naidu, K Prasad, and their team for solving the case swiftly.