The Third Metropolitan Magistrate, Visakhapatnam, on Friday sentenced one Peela Jagadish to three years imprisonment and also imposed a fine of ₹10,000 on him for duping three banks and obtaining loans to the tune of ₹27 lakh with forged documents. The case was registered in the Pendurthi police station in 2012. The case was entrusted for Investigation to R.Mallikarjuna Rao, the then Inspector of Police, DFIT, North Sub Division.
According to Mr Mallikarjuna Rao, the accused along with his father Peela Krishna Rao, had cheated three banks SBI Pendurthi, Repco Housing Bank and Andhra Bank, Dondaparthy. Prosecution was conducted in court by APP T.Vaani
