Hyderabad software engineer held for cheating banks

HYDERABAD: Police has nabbed a software engineer and his two other accomplices who cheated Rs 28 lakh from banks by submitting fraudulent documents. Bandi Durga Prasad was working in a firm at Panjagutta here. He joined hands two others to secure bank loans by floating a bogus software firm and fabricated pay slips of reputed companies.

Later, the trio approached various banks including Citibank, Barclays and HDFC to get loans for over Rs 28 lakh. They submitted fake pay slips to show that the listed employees were working in Satyam Computers and drawing Rs 84,000 salary per month.

Cops arrested Prasad and efforts are on to nab the two others. Cash totalling Rs 6.5 lakh and one laptop were recovered from him.