The Commissioner’s East Zone Task Force officials in joint operation with Chaderghat police, on a tip off, arrested one Ashok Kumar Singhvi, “Archana Finance Company” of Malakpet, who lends money to the Government Employees, Retired Employees (pensioners) and other needy persons for exorbitant interest rates ranging from 6 to 8 per cent by pledging their ATM Cards and blank cheques.
ATM Cards Total (45 ), Cheques (177) pertaining to 30 persons, three books containing the victims details , an amount of Rs. 28,000, were seized by the police.
Police said that the accused lends money to Government Employers, Pensioners and those who are in need of money. He pledges their ATM cards with its passwords and cheques with him. When the Government Employees and Pensioners approach him for hand loans, he encashes the need and urgency of them, and lends money as loan on exorbitant interest rates ranging from 6 to 8 per cent interest for month and also their ATM Cards with Passwords. He withdraws the money from the salaried and pensioners accounts from the banks using the ATM cards kept with him as he got the information of passwords with pin numbers. Besides, he also encashes the post-dated cheques of persons who do not have ATM cards as and when needed. As of now, approximately he lent to the tune of Rs. 35 lakh to the Government and retired Employees (Pensioners).
The arrest was made by R.G. SIVA MARUTHI, Inspector of Police, Commr’s Task Force, East Zone, and SIs Kastro, K. Ravindar Reddy, V. Ashok Reddy, A. Sudhakar, Commr’s Task Force, East Zone, along with the staff of the Commr’s Task Force, East Zone Team.(NSS)