The Hindu : Andhra Pradesh / Hyderabad News : Gang swindles lakhs from BoI branches

Online edition of India's National Newspaper
Thursday, Jun 30, 2005

Andhra Pradesh

Andhra Pradesh - Hyderabad

Gang swindles lakhs from BoI branches

Staff Reporter

Re-run of December's housing loan scam in Union Bank of India

Police suspect complicity of bank officials
SCR, RTC employees taken for a ride

No clue as to how culprits secured salary slips

HYDERABAD: In a re-run of the fraud in Union Bank of India busted in December last year, a gang reportedly swindled lakhs of rupees by securing housing loans with forged documents from different branches of Bank of India (BoI) in the city.

The scam, in which the police suspect complicity of some bank officials, came to light on Wednesday when three persons approached the Cyberabad police saying some persons had taken house loans in their names without their knowledge.

While Narayan Reddy and Rajender Kumar lodged complaints in Neredmet police station, one Gopal Reddy approached the Khusaiguda police with similar charges. Sources said that inquiries indicated that the trickster had taken several employees of the South Central Railway and the Andhra Pradesh State Road Transport Corporation for a ride. "It is not yet known as to how the culprits have managed to secure salary slips and other documents of these complainants and employees. But, we believe some bank employees are behind it," a police officer associated with the investigation said.

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Andhra Pradesh