Sunday , November 27 2016
Home / Crime / Crime in Hyderabad / Massive fake credit card racket busted in Hyderabad

Massive fake credit card racket busted in Hyderabad

FAKE CERTIFICATE racket

Cyberabad police have now uncovered a scam run by a person named M Jagan Mohan Reddy.

The accused reportedly managed to get hold of 400 PAN cards and voter ID cards by bribing various officials in the government. He also allegedly swindled money to the tune of Rs 63 lakhs using 167 credit cards from numerous banks over the last several months.

Police said that Reddy had 13 accomplices and the gang helped him in these criminal activities. They obtained the PAN cards and voter ID cards on fake names and then used them to get credit cards from various banks like SBI, American Express, HDFC and IndusInd.

The accused was so adept that he even created a mini telephone exchange in his house. Reddy had 37 telephone landlines in his house and also 155 SIM cards, police said. He used this network for telephone verifications. The Cyberabad Police stated that terrorists could also use a similar network and this incident was a threat to national security.