‘Call money’ racket: 19 held in East Godavari, Rs 23L seized
Nineteen people have been arrested in connection with the 'call money' racket and over Rs 23 lakh cash seized from them, police said on Friday.
The 19 people were arrested from different areas of the district last evening during raids and searches conducted on unlicensed businessmen who were collecting high interest from the borrowers, Rajahmundry (Urban) Superintendent of Police S Harikrishna said.
During the raids, police also seized Rs 23,20,500 cash, 447 signed blank promissory notes, 80 signed blank cheques, 60 blanked signed white papers, a General Power of Attorney and 26 other miscellaneous documents, the SP said. 'Call money' refers to a mode of private lending where loan is made available instantly at borrower's doorstep but at exorbitant rates of interest, and the lender can demand repayment anytime over a call.
"The station housing officer and DSP of Rajahmundry Urban district limits conducted surprise raids and searches on call money businessmen and unlicensed businessmen who are collecting high interest from borrowers," he said.
A total of 18 cases have been registered against the 19 accused who were produced in a local court today which remanded them in 14-day police custody. The arrested include two rowdy-sheeters. Besides, two more cases of alleged harassment by 'call money' operators were also registered on a complaint lodged by some people and an inquiry was on in them, Harikrishna said.
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