BERHAMPUR: Adava police in Gajapati district on Thursday arrested a 35-year-old man for allegedly cheating several people by luring them with loans against pledged vehicles, gold ornaments and important documents.
Police said a whopping 137 motorcycles, `3.61 lakh cash, 127 mobile phones, registration certificates and smart cards related to various two-wheelers, bike keys, agreements, stamp papers and other incriminating documents were seized from accused K Rabindra Reddy of Adava.
Reddy was arrested on basis of a complaint lodged by one Chandra Sekhar Das (34) of Mohana on Wednesday. In his complaint, Das alleged that Reddy was operating a scheme in which people were offered loans after mortgaging valuable assets. About six months ago, the complainant reportedly mortgaged his motorcycle valued at around `90,000 with the accused and received a loan of `20,000 from him.
Reddy allegedly took possession of the motorcycle, its registration documents and also obtained the complainant’s signature on a blank stamp paper. When Das later arranged funds to repay the loan and demanded his vehicle back, the accused allegedly avoided him and eventually refused to hand over the motorcycle.
Based on the complaint, Adava police registered a case under sections 338, 336(3), 318(4), 314 and 316(2) of the BNS against Reddy. On the day, a police team led by R Udayagiri SDPO Rakesh Sahoo conducted a raid at the accused’s residence and made the seizures.
The SDPO said Reddy was arrested after completion of necessary legal formalities. Preliminary investigation revealed evidence of cheating, criminal breach of trust and forgery. Further investigation is underway to identify other victims and ascertain the full extent of the fraud, he added.