Hyderabad: Death of a financier in old city has created a flutter in political and police circles. Activities of financiers in old city and their atrocities on poor are an open secret. They are active mostly in south zone area under political and police patronage. Due to their close links with politicians and police officers, people are scared to lodge complaint against them.
After the death of a notorious financier who was active in south zone due to Covid-19, his aides have become powerless while the political and police quarters are grief-stricken.
According to sources, the financier was active in Charminar and Yaqutpura assembly constituencies and all other small financiers worked under him.
Any type of recommendation or settlement under south zone police station limits would easily be done with the intervention of the financier. As a result of his close links with the local party leaders and MLAs, he would be responsible election campaigns in the respective assembly constituencies at the time of elections. He played an important role in crushing the opponents. Death of the financier has weakened the local party politically and it is hard to find his substitute for them.
Police and public representatives would use him for settlement of matters besides land matters and have benefitted lakhs of rupees.
According to sources, the said person’s relatives are also associated with money lending business and they have financed the gold and silver businessmen of Gulzar Houz, small businessmen of Charminar Pathargatti and Lad Bazaar. They give loan on 15 to 30 percent interest. They reportedly have investments in foreign countries too.
The death of financier has paved way for small financiers to flourish but the persons close to the said financier are gearing up to become active.
Well-known Pahelwan’s of the two assembly constituencies were also under the influence of the said financier because he had the backing of high command of local political party.
Locals say that as long as the loan sharks enjoy the backing of police and politicians they will continue to suck the blood of poor.