The Vyyalikaval police have arrested a 36-year-old rowdy sheeter who was running an illegal money-lending business with a capital investment of Rs 2 crore.
The Vyyalikaval police have arrested a 36-year-old rowdy sheeter who was running an illegal money-lending business with a capital investment of Rs 2 crore.u00a0
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Lend Us some money, honey: Enquiries have revealed some of the
staff members in the police headquarters had taken loans from money
lenders for their immediate monetary needs
Srinivas Naidu alias Srinivasa, who has more than six criminal cases pending against him, was targeting petty businessmen and private firm employees offering loans, with exorbitant interest rates, that ranged from 10 to 20 per cent.
"He forced them to sign blank cheques and papers.u00a0 Srinivas also used to force customers who failed to repay the loan and interest amount to transfer their immovable properties in his name," Vyyalikaval PI B Noorulla Shariff said.
The cops raided Srinivas Enterprises in Vyyalikaval and seized over 100 documents including land records, blank cheques with signatures and blank stamp papers. The police have also seized a car and cash Rs 3.5 lakh from him.
The police have been taking a strict stance on the illegal activities such as these, after former state police chief Ajai Kumar Singh directed the head of the departments to take a serious note on this.
The dictions followed after enquiries revealed some of the staff members in the police headquarters had taken loans from money lenders for their immediate monetary needs.
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