Couple arrested for cheating banks
May 11, 2014
Source : The Times of India
 
VISAKHAPATNAM: While many people find it very difficult to get a home loan for constructing their dream house, a couple allegedly managed to deceive two different banks and secure two different home loans.

The police arrested 52-year-old Kambapu Satyanarayana Reddy, working as a chargeman in Visakhapatnam Steel Plant, and his wife Kambapu Kalyani, both of whom reside at the Vuda Layout in Marripalem, on charges of cheating two banks by providing them with false documents in order to avail the housing loans.

Police officials said that the couple had initially in 2005 had taken a loan of Rs 5.5 lakh from the Asilmetta branch of Bank of Baroda. Subsequently, even before the previous loan was repaid, they mortgaged the sale deed document of their house yet again and once again took a housing loan of Rs 6 lakh from the Dabagardens branch of Andhra Bank by allegedly submitting a false sale deed, thus indulging in cheating and forgery.

A team led by Maharanipeta inspector R Mallikarjuna Rao arrested the couple and produced them before the court for remand.

 

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