The Special Operation Team of the Cyberabad Police busted a gang which was making fake PAN cards and fake Voter ID cards so as to be able to get fake credit cards using them and thereby defraud banks.
The police arrested a gang of 14 persons, including a sales executive in American Express Bank.
Mogulla Jagan Mohan Reddy alias Srinivas Reddy was kingpin of the gang, which cheated various banks and wrongfully gained Rs 63.5 lakhs.
This has severe repercussions for the security of the nation in the present juncture, the police said, because PAN cards and Voter ID cards are among the most important cards issued by the Central government, and these are the basis for the issue of very sensitive documents like passports and Aadhar cards.
Jagan Mohan Reddy is a native of the Warangal district of Telangana, and studied up to 10th class. Later he worked as a supervisor in K N R Constructions in Warangal. About 10 years back, he came to Hyderabad and worked as security guard, and later in ICICI Bank, Citi Finance and R P V S Charted Accountants as a field verification officer. In the last few jobs, he gained knowledge about verification and issuing of credit cards. With that knowledge, he hatched a plan to get easy money wrongfully.
The police seized fake PAN cards, credit cards of different banks including SBI and HDFC, and equipment used in fabricating the cards.