3 persons float fictitious software firms, approach various banks with fake IDs, and obtain loans to the tune of Rs. 1.07 crores.
The East Zone team of the Commissioner's Task Force busted a racket of dubious software firms, and arrested 3 persons who allegedly cheated at least 18 banks.
Addressing a press conference in Hyderabad on Sunday, City Police Commissioner A K Khan said that the accused - Macherla Venkata Suresh, Kathe Srinivasa Rao and Kathe Naveen Kumar - floated fictitious software firms, created a fictitious salary base, obtained PAN cards and credit cards, approached various banks with these fake IDs, and obtained loans to the tune of Rs. 1.07 crores.
According to the police, the accused floated Tekq Technologies, Adroit Software Development and Consultancy (P) Ltd., Elite Software Technologies and Info (P) Ltd., Marquis Software Solutions and Services India (P) Ltd and Jam Television(P) Ltd, between February 2009 and December 2011.
They created a fake employee base by obtaining various photographs, created appointment letters, opened salary accounts, and even deposited "salaries".
With the bank statements and salary ID proofs, they also obtained PAN cards and credit cards in the employees' names.
They utilized the credit cards for various purchases, and also obtained personal loans and vehicle loans from as many as 18 nationalized and other banks to the tune of Rs. 1.07 crores.
On a tip-off, the Task Force team arrested the accused, and seized a Volkswagen car, a Verna Car, gold ornaments of about 14 tolas, three 2-wheelers, 150 cheque books, 120 fake and forged identity cards, 29 bank account pass books of various banks, 170 debit and credit cards, 75 PAN cards, 8 voter ID cards, 21 mobile phones and 82 SIM cards, 6 computers with CPUs, 2 laptops, one Sony LED 42-inch TV, valuable furniture, 2 spilt A/Cs, and cash of Rs. 3.06 lakh.
The City Police have cautioned banks to be careful in dealing with such fictitious firms. Whenever salary accounts of any companies are opened, utmost care should be taken to verify photographs, residential addresses and other details, they said.
In view of a rapid increase in the floating of firms, banks must be thorough in verifying all the details, they emphasized.
The arrested accused persons along with seized material have been handed over to the Banjara Hills Police Station for further action. (INN)