Son of a retired IAS officer Bhaskar Rao Picked up by Hyderabad police for allegedly cheating banks worth Rs 3cr.
HYDERABAD: Task Force sleuths have arrested two con artists, including the son of a former IAS officer, for duping banks and other commercial establishments to the tune of Rs 3 crore. The accused have been identified as K Vijay Kumar, 34, of Gandhi Nagar, and Murthy, 45, of Kondapur. According to the police, the duo had duped 12 banks in the city, an Apple store owner from Banjara Hills and a laptop rental firm to the tune of Rs 3 crore in the past few years by obtaining loans through fraudulent means.
According to police, Vijay Kumar, who stood fourth in the Eamcet in 1996, had completed B Tech from JNTU in 2000 and then went on to pursue MBA from OU. He later worked for Satyam Computers for a handsome salary of Rs 3 lakh per month and then launched 34 computer and electronic gadget stores under the name Digital Tech Computer in Hyderabad, Task Force inspector L Raja Venkat Reddy said.
Vijay incurred losses in the business and for the past few years, with the help of Murthy, his senior in engineering, started conning banks by using contacts of his late father in the banking sector.
Vijay used to seek the help of senior executives of various banks, whom he knew through his father in the past, and with their assistance used to secure loans with negligible amount of scrutiny. Police said Vijay with Murthy's help took 12 car loans, four personal loans and four house loans from 12 different banks in Hyderabad and also duped an Apple store owner in Banjara Hills to the tune of Rs 36 lakh by taking 63 pieces of iPhone 6 series from him by not paying the amount. "To win the confidence of the Apple store owner, Vijay initially took some products and paid Rs 12 lakh to him," the inspector said.
The duo also duped owners of some electronic stores by taking six LED TVs and 19 laptops on rent. Based on the complaints lodged by various banks and commercial establishments against the duo at various police stations in the city, including Banjara Hills and Jubilee Hills, the Task Force sleuths picked them up from their houses on Monday. The duo was handed over to the Banjara Hills police for further probe.
HYDERABAD: Task Force sleuths have arrested two con artists, including the son of a former IAS officer, for duping banks and other commercial establishments to the tune of Rs 3 crore. The accused have been identified as K Vijay Kumar, 34, of Gandhi Nagar, and Murthy, 45, of Kondapur. According to the police, the duo had duped 12 banks in the city, an Apple store owner from Banjara Hills and a laptop rental firm to the tune of Rs 3 crore in the past few years by obtaining loans through fraudulent means.
According to police, Vijay Kumar, who stood fourth in the Eamcet in 1996, had completed B Tech from JNTU in 2000 and then went on to pursue MBA from OU. He later worked for Satyam Computers for a handsome salary of Rs 3 lakh per month and then launched 34 computer and electronic gadget stores under the name Digital Tech Computer in Hyderabad, Task Force inspector L Raja Venkat Reddy said.
Vijay incurred losses in the business and for the past few years, with the help of Murthy, his senior in engineering, started conning banks by using contacts of his late father in the banking sector.
Vijay used to seek the help of senior executives of various banks, whom he knew through his father in the past, and with their assistance used to secure loans with negligible amount of scrutiny. Police said Vijay with Murthy's help took 12 car loans, four personal loans and four house loans from 12 different banks in Hyderabad and also duped an Apple store owner in Banjara Hills to the tune of Rs 36 lakh by taking 63 pieces of iPhone 6 series from him by not paying the amount. "To win the confidence of the Apple store owner, Vijay initially took some products and paid Rs 12 lakh to him," the inspector said.
The duo also duped owners of some electronic stores by taking six LED TVs and 19 laptops on rent. Based on the complaints lodged by various banks and commercial establishments against the duo at various police stations in the city, including Banjara Hills and Jubilee Hills, the Task Force sleuths picked them up from their houses on Monday. The duo was handed over to the Banjara Hills police for further probe.
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