Hyderabad Police Arrest Illegal Financier in Falaknuma: Cash and Evidence Seized
In a major crackdown on illegal financial operations, the Commissioner’s Task Force, South Zone Team in coordination with Falaknuma Police, apprehended an individual running an unauthorized money-lending business in Hyderabad.
Hyderabad: In a major crackdown on illegal financial operations, the Commissioner’s Task Force, South Zone Team in coordination with Falaknuma Police, apprehended an individual running an unauthorized money-lending business in Hyderabad.
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Accused Identified as Local Tailor Syed Chand Pasha
The accused has been identified as Syed Chand Pasha, a 47-year-old tailor residing in the Falaknuma area of Hyderabad. Despite his profession, Pasha was reportedly running an illegal finance business, targeting innocent and financially vulnerable individuals by charging exorbitant interest rates of up to 20%.
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Details of the Accused:
- Name: Syed Chand Pasha
- Age: 47 years
- Occupation: Tailor
- Residence: Falaknuma, Hyderabad
Items Seized From the Accused
During the arrest, authorities seized incriminating evidence including:
- Net Cash: ₹40,000/-
- 01 Cell Phone
- 01 Note Book (containing transaction records)
Targeting Poor and Illiterate Borrowers
According to police sources, Pasha operated without any valid license, illegally providing loans to illiterate and poor individuals. He leveraged his familiarity and reputation within the locality to identify potential victims and collect hefty interest on the principal amount.
Police Crack Down on Unauthorized Lending
Law enforcement officials stated that operations like these exploit economically weaker sections, leading to financial and emotional distress among borrowers. The arrested individual is currently in custody, and further investigation is underway to trace additional victims and any accomplices.
