Hyderabad: The central zone Task Force team of the city police on Friday nabbed a serial conman from Panjagutta who had made an enterprise out of setting up call centres and peddling fake loans to those in need of financial support.
According to the police, Mirza Khader Baig, the accused, had cheated a complainant of over Rs 6 lakhs. This was done under the guise of ‘service tax’ collected for a business loan of Rs 5 Crores.
Baig, a frequent offender, would recruit female employees for his call centre, whom he would use to trap potential clients. He was masquerading as a big-time provider of massive business loans. Baig’s targets were mostly people looking to get into real estate, construction, bullion markets and commodities.
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Further, Baig would ask for original property documents as collateral and collect money in the guise of processing fees for the loan.
He would give customers a time period of 90 to 120 days for loan sanction. During the 120-day period, the accused would continue to collect fees from unsuspecting customers, shut down shop and flee.
The accused has been involved in 21 cheating cases in the past, said to the police.