Prime accused in case of cheating banks arrested

Mangalore Today News Network

Kasargod, Mar 15, 2015 :  Police have arrested a man from Uppala who is said to be a main accused in the case of defrauding several banks to the tune of over Rs 3.5 crores. Acting on a tip off the cops arrested him as soon as he alighted a train at the Mangaluru Railway Station.

The arrested person has been identified as Saidu Gulzar Ahmed (58). It is learnt, he had availed loans from different banks by pledging fake land documents as security.

 

Ahmed and his associates have been cheating banks since 2009. Police had arrested three persons earlier and based on the revelations made by him, the prime accused who was in hiding in Mumbai and had returned to his hometown on March 14, Saturday was arrested.

It is learnt, Ahmed and his associates had cheated the Manjeshwar branch of Canara Bank and Kasargod branches of Canara Bank and Bank of Baroda. The CBI had also taken up investigation into the case.