Hyderabad couple arrested for Rs.5.3 crore bank fraud

Hyderabad: Cyberabad Police on Wednesday arrested a couple for duping Indian Bank, Shadnagar of Rs 5.3 crore by attaining loans by submitting false documents. The couple is identified as Pabanthi Prabhakar (47) and Pabanthi Saritha (42), the residents of Shaikpet.

As quoted by Telangana Today, the police said, “The duo obtained the loan fraudulently by submitting false documents like salary slips and Form 16 to the bank.”

The fraud came to light when the couple couldn’t repay, said the police officials. Bank officials lodged a complaint with the Shadnagar police after which the couple was arrested and produced before court.

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In the official release, it was also mentioned that Prabhakar is also accused in six other cases registered at Abdullapurmet, Rajendranagar, Narsingi, Madhapur and KPHB police stations.

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