Daijiworld News Network - Mangalore (GA)

Mangalore, Nov 25: A person who is said to have cheated more than Rs 8 crore to five different banks in city and in Bangalore along with his accomplices was arrested by Pandeshwar police on Friday November 24.  He was later handed over to CBI police who had come from Bangalore.  The arrested would be produced before the court in Bangalore on Saturday November 25.

The arrested has been identified as Ismail, a resident of Kanhagad in Kerala.  He along with Venkat Reddy, Parthasarathi, Maiyyadi of Kulur and Abdul Rahiman had forged documents and procured loan from various banks in the city and in Bangalore.  The gang had been functioning from 2003.  However, they never repaid the loan procured.

Of late they had procured Rs 2 crore in the name of Jugul Granite Company of Baikampady.  A case in this regard was filed later in Bangalore which was handed over to CBI.  While other accused had already been granted anticipatory bail in this regard, Ismail was still at large. 

But on Friday he had come to city to attend a civil court proceeding when he was nabbed.  He runs a hotel along with Maiyaddi at K S Rao Road here.