The Kondamallepally police on Friday busted a phony passbook racket, capturing 13 people and recouping 154 passbooks and ₹1.91 lakh from them.They additionally seized 28 counterfeit elastic stamps, 70 pass covers and other PC material.
Region Superintendent of Police D.V. Srinivasa Rao said the 13-part posse from P.A. Pally, Damaracherla, and neighboring mandals had, for as far back as three years, been fashioning marks of income authorities from unique pattadar books got from ranchers, promising them trim credits.
The phony book producers sold copy passbooks at ₹10,000 per combine to agents and intermediaries, who thusly reached the farmers.With the copy ones introduced in banks, they would mastermind advances at grameena banks, the police explained.Each credit running amongst ₹70,000 and ₹1 lakh was endorsed through APGVB branch at P.A. Pally and Co-agent Bank in Gurrampode.
For each endorse, ₹10,000 was gathered by operators in view of the kind of advance, and upto ₹30,000 if the passbooks were at that point promised to the financiers.
For each endorse, ₹10,000 was gathered by operators in view of the kind of advance, and upto ₹30,000 if the passbooks were at that point promised to the financiers.