Police arrest 4 for fraud against ICICI

Hyderabad, Nov 1 (UNI) Four employees of BHEL have been arrested by Hyderabad City police for getting loans to the tune of Rs 63 lakh from ICICI Bank by furnishing false documentation.

The four, B Sunder, G Sudhakar, T Seenaiah and Mohd Hussain, are residents of Ramchandrapuram in Medak district.

Police said the culprits had applied for personal loans in October, 2005, by furnishing fabricated salary slips, Income Tax returns, bank account statements and residence proof certificates.

They inflated income, designation and volume of bank operations.

They suppressed material facts and availed personal loans from the bank to the tune of Rs 63.53 lakh by posing as senior executives of BHEL, while they were actually artisans and technicians.

The culprits were arrested yesterday, according to a release.

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