Andhra Pradesh News

Money-lender arrested in Vizag

Money-lender arrested in Vizag

Visakhapatnam: The city police today arrested a money-lender named Yarabati Srinivasa Rao (41) for extortion and cheating.

Inspector V S Rao of One-Town police station said that Vasetti Atchayya, resident of Dhoodavari Veedhi, had borrowed Rs 1.05 lakh from Srinivasa Rao at a very high interest rate.

Atchayya had handed over to Rao three blank cheques, a promissory note and his ATM card.

Rao allegedly withdrew over Rs two lakh from Atchayya’s account and claimed that another Rs 90,000 were due and if the latter didn’t repay it immediately he would face dire consequences.

Atchayya approached the police few days ago, alleging harassment. Police said they had received complaints against Rao from five others too.