9 persons fake FD certificate Interstate gang arrested

Belgaum, Apr 16 (UNI) Nine persons were arrested today when they attempted to raise loan against fake Fixed Deposit (FD) certificate.

Additional SP, S K Hegde talking to UNI said Interstate gang had produced a fake FD certificate worth 4.5 crore from Vapi, Gujarat and had asked for loan of 3.5 crore at a local branch of Union Bank of India.

Suspecting a foul play, the bank officials borrowed time to verify the documents and laid trap.

Mr Mahesh Varma of Mumbai is described as the King pin of the gang which consists members from Maharashtra, Karnataka and Goa.

UNI