Hyderabad: Ramgopalpet police arrested a man accused of cheating a woman by misappropriating cash and gold after promising to arrange a large bank loan.
Police registered the case on March 2, 2026, after Rakhi Jain, a resident of D.V. Colony in Hyderabad, filed a complaint.
Investigators said the accused promised to arrange a loan of ₹2.8 crore through bank contacts.
Subsequently, the loan cheating accused arrest followed a detailed investigation into the fraud involving a large amount of money and gold jewellery.
Loan cheating accused arrest follows fraud complaint
Police identified the accused as Turikepalli Bharath Sai Chandra, 30, a resident of Fatehnagar in Sanath Nagar.
According to investigators, the accused introduced himself as an employee of IDFC Bank’s Jubilee Town branch.
Earlier, Abhijeet, a manager at Utkarsh Bank, introduced him to the victim.
Believing his claims, the victim paid ₹10,69,800 through both cash and online transactions.
Moreover, she handed over 190 grams of gold jewellery for what the accused described as bank documentation.
However, no loan was sanctioned. Instead, the accused allegedly misappropriated the money and gold.
Loan cheating accused arrest leads to recovery of cash and gold
Meanwhile, Sub-Inspector K. Gangadhar continued efforts to trace the accused.
On March 6, police received credible information that the accused was near Fatehnagar Bridge in a car.
Immediately, the police team rushed to the spot and apprehended him.
Following the loan cheating accused arrest, officers seized several items from the accused.
Police recovered a Ford Endeavour car with registration number TS09EW2800.
In addition, officers seized an Apple iPhone 17 Pro, ₹4 lakh in cash and a gold biscuit weighing about 160 grams.
Authorities are also taking steps to freeze another ₹4 lakh in the accused’s IDFC Bank account.
Loan cheating accused arrest reveals multiple past cases
Investigators also found that the accused had a history of criminal offences across several commissionerates.
Records show that he was involved in eight previous criminal cases.
These cases were registered in Hyderabad, Malkajgiri, Cyberabad and Khammam commissionerates.
According to police, the accused usually posed as a bank employee.
He allegedly collected money from victims by promising loan approvals and charging documentation fees.
Later, he absconded after receiving the money without arranging the loan.
Inspector B. Suresh Kumar and Sub-Inspector K. Gangadhar of Ramgopalpet Police Station detected the case.
Several police personnel assisted the investigation under the supervision of Additional DCP J. Narsaiah and senior officers of the Secunderabad Zone.
Deputy Commissioner of Police Rakshitha K. Murthy said the department would reward the officers for their successful investigation.