Bantwal : Fraudster arrested for duping banks

Mangalore Today News Network

Bantwal, Dec 27, 2019:   Bantwal Police have on Friday arrested a person   for cheating  several banks of over Rs 2 crores and also a co-operative Society of Farangipete by availing lakhs of rupees of  vehicle loan by pledging fake documents.

The accused is Basheer alias Hasan Basheer (42), a resident of Pumpwell in Mangaluru. He has been produced before the court and remanded to judicial custody for 15 days.

A complaint was lodged in Bantwal Rural Police Station on November 5 alleging that he had  cheated Sumangala Co-operative Society of  Farangipete  by availing a vehicle loan of Rs 7 lakh in the name of Caravan Automobiles.  Police said  he had also availed loan  amounting to over Rs 2 crore by giving quotation in other names to  various banks in Bantwal, Vitla, Moodbidri and Mangaluru.