Hyderabad: 16 financiers arrested in Old City

Hyderabad: Cracking down on illegal moneylenders in the city, the south zone police arrested 16 persons. The arrested men are from different areas of the Old City. “Some of the suspects are involved in murder cases as well.

We are investigating and trying to collect solid evidence against them. We will be charging them under non-bailable provisions,” said DCP V. Satyanarayana.

The police seized promissory notes and other supporting evidence from the suspects. The private financiers extract exorbitant rates of interest from people.

The poor are forced to borrow money from them to run their small businesses. The case is being investigated.