Hyderabad police arrested a software engineer and his two other partners for cheating banks of Rs 28 lakh by submitting fraudulent documents. Bandi Durga Prasad was an employed in a firm at Panjagutta. He partnered ship with two others to get loan from bank by floating a bogus software firm and fabricated pay slips of reputed companies.
Later, the trio taking fake pay slips to show that the listed employees were working in Satyam Computers and getting Rs 84,000 salary per month approached various banks including Citibank, Barclays and HDFC to get loans for over Rs 28 lakh.
Cops have been able to arrest Prasad and have launched search for the other two. Police recovered cash totaling Rs 6.5 lakh and one laptop from him.
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