3 held for duping Andhra-based real estate developer

Three persons were arrested here today for allegedly duping a real estate developer of Tirupati in Andhra Pradesh on the pretext of providing cheap loan, police said.
Shalender Pratap Singh, Satender Kumar and Sonpal Singh were arrested from Rohini Sector 9 after one N Prakasham, a resident of Tirupati, lodged a police complaint that the trio duped him of Rs 12 lakh on the pretext of providing loan of Rs 1 crore at three per cent per annum, they said.
"Prakasham, a real estate developer in Tirupati, was offered loan of Rs one crore at three per cent per annum and was asked by the trio to deposit original property documents, four blank cheques and his mobile phone at their office at Azad Pur Commercial Complex in Delhi on April 24. The complainant did accordingly," Additional Police Commissioner P Karunakaran said.

"The trio gave Prakasham a fake demand draft of Rs one crore. Using two of the blank cheques, a total sum of Rs 10 lakh was withdrawn by the three men, whereas the complainant had already paid two lakh towards processing fee, boarding, lodging in the name of verification," he said.