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Task Force Constituted to Rein in Economic Offences

The team will be headed by ACP D Srinivasa Reddy with 2 inspectors to assist him

Published: 29th March 2015 06:02 AM  |   Last Updated: 29th March 2015 06:02 AM   |  A+A-

VIJAYAWADA: The increasing number of economic offences in the city has prompted police commissioner AB Venkateswara Rao to constitute a Task Force on Economic Offences. The task force, headed by assistant commissioner of police D Srinivasa Reddy, has already started functioning. It has two inspectors and their teams as its members.

Disclosing this to Express here on Saturday, the commissioner said that the task force had been constituted after the police had received a few complaints of economic offences in the recent past. The task force had detained some persons who were trying to cheat people with offers of sale of Sri Gandham and Malabar plantations in Jamalapuram. A case had been registered in Satyanarayanapuram police station, he added.

Reddy said that there was another instance of a dubious company — SAB FinCon Services Private Limited — involved in tele-marketing. The executives of the company used to call up people at random and offer to help them get loans up to Rs 10 lakh from banks convincing them that the firm had an agreement with the banks.

When anyone approached them for loans, they would collect anywhere between Rs 20,000 and Rs 50,000 as ‘service charges’ for helping him / her get the loan. If anyone raised any question, he/she would be told that the money would be in the form of deposits with the firm and they would be issued some fake receipts. A case had been registered by the Machavaram police against the firm, he added.

The commissioner advised the people not to fall prey to the enticing offers and not to become partners in ‘commission’ crime unwittingly. He advised them not to pay any attention to newspaper advertisements offering jobs that could fetch salaries in lakhs. If anyone had any doubt over the genuineness of a company, the Task Force ACP could be contacted on phone no: 9490619467, inspectors Kasi Viswanath at 944063709 and Satyanandam at 9490619462, he added.

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