Rs. 16.16 lakhs misused on credit cards
Hyderabad, March 13, 2006
The police arrested three persons allegedly involved in duping various banks to the tune of Rs.16.16 lakhs by misusing credit cards they had secured by fraudulent means on Monday. Two persons who lost money in business met an executive who looks after credit cards. The executive, who was worrying for reaching his targets for the month has chalked out a plan.
The Credit card Sales Executive of another Bank. Mr. Rahaman joined the trio and managed to get credit cards with genuine documents. He used those documents but got the credit cards delivered to these two persons, said the Sub Inspector who is investigating the case. The police rounded up one K.Ravi and based on the information and confession picked up Ch.Ravi and Sridhar while Rahman is still at large.
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