Police in Hyderabad have arrested a habitual offender accused of cheating a Secunderabad resident of over Rs10 lakh in a bank loan fraud.
The accused, Turikepalli Bharath Sai Chandra (30), is reportedly involved in eight criminal cases registered across the commissionerates of Hyderabad, Malkajgiri, Cyberabad, and Khammam.
According to Ramgopalpet Police Station, the accused falsely posed as an employee of a private bank and approached the victim, Rakhi Jain (46). He allegedly promised to help secure a Rs2.8 crore bank loan.
After gaining the victim’s trust, Bharath Sai Chandra collected ₹10,69,800 through both cash and online transfers. He also took 190 grams of gold jewellery, claiming it was required for “documentation purposes” to process the loan.
When the promised loan failed to materialize, the victim realised that he had been cheated and approached the police.
Acting on credible information, police tracked down and arrested the accused on Friday near Fatehnagar Bridge in Hyderabad while he was travelling in a Ford Endeavour SUV.
During the operation, officers seized:
Rs4 lakh in cash
A gold biscuit weighing about 160 grams
A Apple iPhone 17 Pro
The Ford Endeavour vehicle
Police also initiated steps to freeze another Rs4 lakh found in the accused’s bank account.
Officials confirmed that further investigation is underway to determine whether more victims were targeted in similar fraud schemes.
