CHENNAI: Central Crime Branch police on Thursday arrested four persons on charges of cheating private banks of about Rs.75 lakh. They are on the look-out for 11 others.
According to police, the four persons identified as A.Nandakumar (27), N.Shanmugam (30), T.Hari (32) and S.Madhavan Ram (33) established a company D. L. Bottling Tech in Kallikuppam, Ambattur, in February last year. When the company started incurring losses, an ICICI bank representative approached one of the accused with a suggestion that he get a credit card.
Fake documents
Hari, an MCA student, helped to prepare fake salary certificates and driving licences for the accused, their friends and relatives. Madhavan Ram, with the help of a sales executive of the bank, got 103 credit cards and the four accused withdrew from the bank Rs.65 lakh.
Interrogation of the arrested persons revealed that they had similarly received 21 credit cards from HSBC and two from Barclays Bank and had cheated the banks of Rs.5 lakh. With the money, the accused bought three cars, a laptop, two LCD televisions, four sovereigns of jewellery, a mobile phone besides some other valuables.
Police recovered all these items and 17 credit cards, following the arrests.
Police said the accused had destroyed most of the cards when they realised that one of the banks had come to know of the fraud. E. Prakash, Area Manager (Risk Containment Unit) of ICICI Bank, Santhome Branch, lodged a police complaint.
Cases have been registered against the four under sections 419 (punishment for cheating by personation), 420 (cheating and dishonestly inducing delivery of property), 465 (punishment for forgery), 467 (forgery of valuable security, will, etc.), 468 (forgery for purpose of cheating) and 471 (using as genuine a forged document) read with 34 (acts done by several persons in furtherance of common intention) of Indian Penal Code. They have been remanded to judicial custody. The police are on the lookout for 11 others in the case.
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