Habitual offender arrested in Hyderabad for Rs 10L bank loan fraud

Hyderabad: A habitual offender involved in eight criminal cases across Hyderabad, Malkajgiri, Cyberabad, and Khammam commissionerates, has been arrested for duping a Secunderabad resident of Rs 10 lakh in a bank loan fraud, Ramgopalpet police said on Saturday, March 7.

The accused, Turikepalli Bharath Sai Chandra, 30, had falsely introduced himself as a private bank employee to the victim Rakhi Jain, 46, and promised to arrange a loan of Rs 2.8 crore.

After gaining the victim’s trust, he collected Rs 10,69,800 through cash and online transfers and also took 190 grams of gold jewelry for “documentation purposes”. However, when no loan was sanctioned, the victim realised that she had been cheated.

Based on credible information, police apprehended the accused on Friday at Fatehnagar Bridge while he was in a Ford Endeavour car. Rs 4 lakh cash, a gold biscuit weighing about 160 grams, an Apple iPhone 17 Pro, and the vehicle was seized by the police. Another Rs 4 lakh in the accused’s bank account is being frozen.