Hyderabad

Gang busted for taking loans in the name of dead people

Fake ID cards and phone SIM cards recovered from the gang displayed at a press conference on Saturday.

Fake ID cards and phone SIM cards recovered from the gang displayed at a press conference on Saturday.   | Photo Credit: Nagara Gopal

They used the internet, especially social media, to search for potential victims and apply for new SIM cards which were in the name of their victims.

Cyberabad Police busted a gang of six persons who allegedly cheated several banks by obtaining loans in the name of deceased IT employees.

The accused were identified as Nimmagadda Phani Chowdary (33), Mandava Swaroop Nath Chowdary (34), P. Srinivas Rao (33), Kandru Harish (25), Narne Venu Gopal (35) and I. Veera Sekhar Rao (28).

The issue came to light when the family of one such deceased IT employee approached the police with a complaint stating that his credit card was being misused.

Police said Phani and Swaroop hatched a plan to take loans in the name of deceased persons by fabricating their IDs and other documents. They used the internet, especially social media, to search for potential victims and apply for new SIM cards which were in the name of their victims. For this purpose, Srinivas made the fake documents.

Since they had duplicate SIM cards and customer IDs, they would visit netbanking sites and generate new passwords. They also accessed e-mail addresses after obtaining them from social media accounts of the victims or from banks. They would then request for pre-approved loans or apply for credit cards.

Police said the accused misappropriated over ₹53 lakh, and have seized a four-wheeler, 100 fake IDs, six mobile phones, 20 SIM cards, and a card printer from their possession.

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Printable version | Apr 9, 2020 12:53:36 AM | https://www.thehindu.com/news/cities/Hyderabad/gang-busted-for-taking-loans-in-the-name-of-dead-people/article30772683.ece

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