Karimnagar: Following a major crackdown yesterday, Task Force Police personnel conducted raids and arrested 49 financiers on charges of allegedly lending money at exorbitant rates of interest.
Acting on a tip-off, the officials carried out the raids and seized Rs 65.52 lakh cash in Ramagundam.
Speaking to reporters, Ramagundam Police Commissioner V Satyanarayana said the arrested financiers collected daily interest from the poor and middle class and even had taken property documents as security. Not stopping with this, they even threatened the loanees through anti-social elements.
The police seized documents, blank cheques, ATM cards, stamp papers, registered sale deeds and title deeds, pledged by the loanees during the raid. 70 other lenders were absconding said Satyanarayana.
