Hyderabad, Nov 28 (UNI) A group of 20 individuals, suspected to belong to the same gang, have cheated HSBC Bank to the tune of Rs 52 lakh.
According to the Central Crime Station (CCS) police, HSBC bank area risk officer Shiva Kumar approached the sleuths of the CCS with a complaint that the bank had been cheated by at least 20 persons in loans and credit cards.
The culprits approached the bank with requests for personal loans and credit cards. After a thorough verification,the bank gave personal loans to 14 persons and issued credit cards to six persons, totalling over Rs 52 lakh.
When bank officials went for collecting loan money, they learnt the offices of all the persons had been wound up and they had vanished.
The bank came to the conclusion that the addresses mentioned in the application forms were not genuine and the sole purpose was to cheat the bank.
Meanwhile, the CCS police launched investigation to nab the defaulters.