CCB sleuths bust illegal finance racket

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posted on 13 years ago — updated on 1 second ago

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BANGALORE: Central Crime Branch police have arrested a person who allegedly gives finances to retired employees for higher interes..

BANGALORE: Central Crime Branch police have arrested a person who allegedly gives finances to retired employees for higher interest rates and harasses them.The accused has been identified as Nanjunda Kumar (44), who was running this illegal racket at the pension treasury premises at Nripathunga Road. The police have recovered blank cheques, pension books, on demand promissory notes, empty bond papers with signatures, over 170 other documents and Rs 2 lakh.
The accused used to give loans to retired government servants and others with an interest rate of 10 to 20 per cent per month and was running a Rs 3cr business. Halasurgate police are investigating the case.

Probe intensified

The police said that the miscreants after committing the robbery had abandoned the car, which bore a Maharashtra registration number, on HSR Layout Fifth sector. The police has decided to verify the chassis number of the vehicle to trace the owner of the vehicle.

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