Man held for cheating property owners of ₹10 crore in loan fraud

The Central Crime Station (CCS) police in Telangana have arrested a 34-year-old man, Nunavath Yugandhar, for defrauding over 30 property owners of approximately ₹10 crore. The accused, from Kondapur in the Ranga Reddy district, was apprehended by the Economic Offences Wing (EOW) Team-V of the CCS Detective Department. According to police, Yugandhar had been involved in more than 20 criminal cases in Telangana and Andhra Pradesh since 2016.

The fraud came to light when a bank sent repayment notices to a complainant, who discovered that the property had been transferred to a third party without their knowledge. Yugandhar allegedly provided financial assistance and executed a sale deed and memorandum of understanding, but then transferred the property and facilitated a loan using the property as collateral.

Police have warned the public against approaching fraudulent finance consultancies and advised caution when dealing with property documents and sale deeds.

Brief written by urgent.news from The Hindu's own syndicated text. Machine-written — may contain errors; check the original before relying on it.