A film producer-cum-realtor was nabbed here on Sunday for allegedly cheating people by promising them loans for construction purposes.
Shaik Bahseed had started a finance firm here to grant loans for construction purposes, but used to lend money to film distributors here as well as in Chennai, police said.
He produced nine Telugu films and also co-produced four Telugu films, besides acting as a hero in a movie in 2014, which was released in Telegu and Kannada languages, police said in a release here.
His modus operandi was to tell those who approached him for loans that he had offices at various places like Mumbai, Chennai, Bengaluru and Dubai and collect money in the name of 'processing fees' and 'registration challan amount.'
After collecting the money, he would not respond to them, police said
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