Vijayawada: 11 arrested in Rs 5 cr fake loans scam
Police mentioned that the investigation began after G. Lingeswara Rao filed a complaint regarding a loan taken in his name without his involvement
VIJAYAWADA: Guntur SP G. Satish Kumar stated that the police have arrested 11 accused, including a former MRO and a former bank branch manager, in connection with a ₹5 crore scam committed by the GDCC Bank using fake loans. He mentioned that the investigation began after G. Lingeswara Rao filed a complaint regarding a loan taken in his name without his involvement. The case uncovered a scam of about ₹5 crore involving the sanctioning of 54 loans. The SP added that the remaining accused would also be apprehended soon.
During the investigation, it was revealed that for the past 15 years, local political brokers in the Palnadu district had been committing financial fraud by creating fake documents with the help of experts and government employees. The SP explained that the scam was linked to a state government scheme that waived crop loans granted to eligible farmers. It was discovered that the fraud was committed on the assumption that fake loans taken under this scheme would also be waived, which led to the scam spreading to other districts.
The SP disclosed that in the current case, about 30 individuals played various roles at different stages, including selecting fake farmers and taking loans in their names. Of these, 11 have been traced and interrogated. It was uncovered that the accused used fake Pattadar passbooks, 1-B forms, Adangals, Aadhaar cards, PAN cards, fake serial numbers, and fabricated land details uploaded to Webland and other government websites. After taking loans, they would erase these details from the systems.
The investigation revealed that Mandru Seetharamanjaneyulu created fake passbooks, while Avula Tirupati Reddy fabricated PAN cards by altering Aadhaar card addresses. Thiruveedhula Yogayya and Turumella Venkata Sandeep arranged fake farmers to secure loans. Bollinedi Ravikumar, a former GDCC Prathipadu branch manager, and Garnepudi Levi, a former Machavaram MRO, provided technical advice and suggestions.
SP Satish Kumar announced that the following individuals were arrested on Thursday: Somepalli Nagaraju, Jillellamudi Prabhakar, Thiruveedhula Yogayya, Mandru Seetharamanjaneyulu, Sunkara Venkateswarlu, Turumella Venkata Sandeep Kumar (alias Sandeep), Nemalapuri Srinivasa Rao, Manam Nageswara Rao, Bathula Lakshmi Narayana, Avula Tirupati Reddy, and Garnepudi Levi (retired MRO).