HYDERABAD: Shadnagar police on Wednesday arrested real estate businessman P Prabhakar (47) and his wife P Saritha (42) for allegedly duping Indian Bank to the tune of Rs 5 crore.
On November 2, 2020, Mahender Kalvakol, manager of Indian Bank’s Shadnagar branch lodged a complaint with the police claiming that Prabhakar and his wife along with other accused have duped the bank for Rs 5 crore by obtaining loans to build houses and purchase plots. The accused defaulted on payment of monthly installments.
Police statement mentioned that the accused have furnished forged salary statements, form- 16s and other documents of some customers to obtain loans. After the preliminary investigation, Shadnagar police arrested Prabhakar and his wife Saritha from their villa in Shaikpet in the early hours of Wednesday.
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.