Fraudster Arrested For Collecting Lakhs Of Rupees By Promising To Waive Bank Loans
Hyderabad, Jan 13 (Maxim News): The police arrested a scammer who had collected lakhs of rupees by claiming that he had contacts with many celebrities and that he would waive off loans taken through them.
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According to one Town CI Raghupathi, Bagaru Apparao, a resident of Quthbullapur in the Rangareddy district, was traveling in a luxury car and making acquaintances with doctors. He convinced them that he could get loans waived with the recommendation of celebrities if they would spend some money. A doctor in the city took Rs. 15 lakhs on the promise of waiving a bank loan of Rs. 50 lakhs. He took Rs. 12 lakhs from another doctor in Martad and Rs. 60 lakhs under a settlement on the promise of waiving a loan of Rs. 2 crore taken by a doctor in Korutla, Jagtial district. In this way, he cheated many people and accumulated crores of rupees, and invested them in the real estate sector. When the doctors who lost lakhs of rupees approached the police and complained, they went to Quthbullapur and arrested him.
CI Raghupathi said that the accused Bangaru Appa Rao, was arrested and sent to remand. (Maxim News)
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