Bangalore, Oct 24 (UNI) Police have nabbed a four member gang and busted credit cards fraud cheating banks over four crores in last four years, here today.
Police said that a four-member gang led by M D'Souza and his associates Seshappa, Anjanappa and Chowdappa have cheated various banks including HSBC, ICICI, SBI, Yes Bank and Ing Vysya Bank after managing to obtain credit cards by producing false and fictitious addresses.
The police also seized more than 100 Credit Cards pertaining to various leading banks including HSBC, ICICI, SBI, Yes Bank, Vysya Bank. Police said that the modus operandi of the gang was utilising the Credit Cards to purchase consumer goods and cheat the banks by not paying the due amount. Police have registered number of such cases following complaints lodged by the banks in different areas in the city.
During investigation it was revealed that D'Souza and his associates have been operating since four years.