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India Financiers held
The sleuths of Commissioners Task Force, Central Zone Team, today apprehended a person from Mumbai along with his associate here for collecting over Rs 90 lakh from gullible people promising to arrange mortgage loans. Police said on a tip of, the duo, 46-year-old Rajesh Vyas of Mumbai and his local associate Srinivas Krishna(44), a former bank employee, were arrested. A car, three cell phones and gold ornaments were also seized from them. Srinivas, who was sacked on charges of misappropriation of bank funds, later started a finance firm and came in to contact with Rajesh Vyas who was running a similar firm in Mumbai. Both collected huge sums as advance processing fee from gullible persons looking for loans and dragged the loan matter for months on pretext of non-submission of required documents of assets verification. They used to reject loan applications stating that they failed to fulfill the requirements in stipulated time. -- (UNI) -- 05MS48.xml
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