One arrested in bank loan fraud worth Rs 14,50,000 in Hyderabad

Hyderabad: The Hyderabad Police has arrested one individual for cheating bank officials to the tune of Rs. 14,50,000. The accused, Jatagi Viswanat was arrested on June 25, after a complaint was lodged by Telangana Grameena Bank (TGB), Senior Manager Balakistaiah.

"The accused plotted the crime with another friend identified as Venu Gopal and obtained a loan of amount Rs. 14, 50,000/- from TGB by mortgaging of property. They produced fake documents to obtain the loan," officials said in a statement.

Meanwhile, a search operation is underway to nab Gopal, who fled after the crime.

A case has been registered under sections 420, 406, 468, 471 of the Indian Penal Code.