Four held for procuring Rs 34 cr loan on fake documents

Four persons were today arrested from here for forging land documents and procuring a loan of Rs 34 crore in 2007, the city police said.
The arrested accused have been identified as B Gollayya Kapu (50), J V Durga Prasad (55), J Srinivas (45) and Yetham Veeraswamy (67), all natives of Kakinada in East Godavari district, now residing in Visakhapatnam.
"In 2007, Kapu and Durga Prasad, with the help of Revenue Officer G L Ganeswara Rao, created forged documents of six acres of land belonging to a temple in Vepagunta and also created title deeds," Addressing the media Assistant Commissioner of Police, Lanka Arjun said ,

Ganeswara Rao was recently arrested by police in connection with the tampering of documents of government lands worth Rs 3,600 crore, he said.
"After the registration of the land with the forged documents at Gopalapatnam Sub-Registrar office, they transferred the documents of the land to GollayyaKapu's wife as gift deed. In 2014, Kapu andothers, took a loan of Rs 34 crorefrom abranch of SBI at Jubilee Hills, on the basis of forged docuements," he said.
After they defaultedonpayment, the SBI officials conducted an inquiry and found that the passbooks wereforged. They then informed the temple office-bearers and Pendurthi police registered a case against six persons," he said.

The Pendurthi police today arrested four of the six accused, who had beenabsconding since 2014, the ACP said adding that a hunt is on to nab two others.