4 held for cheating banks

The City police on Friday arrested four persons who allegedly cheated financial institutions by availing themselves of huge loans on the basis of forged documents.

The arrested have been identified as  P Lokesh, 33 of Tiptur, G D Shadakshari, 32 of Kadur, Nagaraj, 33 of Chennagiri and M S Vadivelu alias Jagannath, 27 of Kammagondanahalli, all part of a big time crime ring.However, the mastermind — Raghavendra alias Raju and three others are still at large.

According to City Police Commissioner B G Jyothiprakash Mirji, the gang, after selecting an area would open either an iron scrap or sanitary materials shop. They would forge documents — I-T returns, rent agreements, land records etc in their names using them as security to avail loans from private financial institutions and banks. After two or three months they shut shop and scooted, leaving their creditors high and dry.

As many as 47 PAN cards, 17 ATM cards, 17 duplicate stamps of nationalised banks, 12 of chartered accountants, two of advocates, 11 seals of sub-registrars and 36 cheque books have been seized from the arrested. While none had lodged any complaint, DCP (North) S N Siddaramappa said, noticing a pattern in the activities of the accused, the police, suo motu took up the case and busted the racket. The fraud has been put at Rs two crore.

Plumber dies in mishap

Vazeer, 28, a plumber, accidentally fell to his death from the third floor of a building at EWS quarters in Ragigudda on Thursday evening, while trying to fix the faulty water connection pipes.

Sources said Vazeer, a resident of EWS quarters, was sitting on the parapet wall and lost his balance. Though immediately rushed to a nearby private hospital and later referred to Nimhans, he succumbed to his injuries. Following autopsy, JP Nagar police have registered a case.