A major alleged property-linked loan fraud has come to light in Telangana, where a 34-year-old man has been arrested for allegedly cheating more than 30 people of around ₹10 crore. The Central Crime Station (CCS) Economic Offences Wing arrested Nunavath Yugandhar, a resident of Kondapur, Ranga Reddy district. According to the police, the accused allegedly approached property owners with promises of arranging bank loans against their land or houses. He allegedly obtained property-related documents and later misused them to transfer properties to third parties and facilitate loans by offering the properties as collateral.
Yugandhar was arrested by Team-V of the Economic Offences Wing of the CCS Detective Department. Police said he had been involved in several criminal cases registered in Telangana and Andhra Pradesh since 2016. According to the investigation, 12 criminal cases, eight civil and Negotiable Instruments Act cases have been linked to him. He was also reportedly wanted in four other cases.
One of the cases that brought the alleged modus operandi to light involved a complainant who had received financial assistance of around ₹60 lakh from Yugandhar. A Sale Deed and a Memorandum of Understanding were executed during the transaction. The agreement allegedly contained a condition that the property would not be sold. However, the accused allegedly used the Sale Deed without the complainant’s knowledge and transferred the property to a third party.
The property was subsequently allegedly offered as collateral to a bank to secure a loan of around ₹1.50 crore. The complainant was unaware of the transaction and the loan. The alleged fraud came to light when the bank issued a notice demanding repayment of the loan. The complainant then examined the property records and discovered that the property had already been transferred to a third party and had been used to secure a substantial bank loan.
Investigators suspect that the accused targeted property owners who were in urgent need of financial assistance or bank loans. He allegedly gained their confidence by offering to arrange financing and obtained access to important property documents. These documents were then allegedly misused for property transfers and loan transactions.
The case highlights the risks associated with handing over original property documents or signing legal instruments to private financial intermediaries without independent verification. Renowned cybercrime expert and former IPS officer Prof. Triveni Singh said such frauds are no longer confined to conventional digital scams. According to him, criminals can exploit trust, financial pressure and gaps in document verification to create serious financial and legal risks for property owners. He advised people to independently verify loan offers, the credentials of intermediaries and the banking channel involved before entering into such arrangements.
Prof. Singh also stressed the importance of obtaining independent legal advice before signing a Sale Deed, Power of Attorney, Memorandum of Understanding or any other document involving property rights. Property owners should ensure that the terms of an agreement are clearly understood and that no document gives another person unintended rights over the property.
The CCS has cautioned the public against fraudulent finance consultancies and individuals claiming to arrange large loans against property. Police advised property owners to verify loan proposals directly with the concerned bank and seek independent legal assistance before handing over original documents or signing property-related agreements.
Yugandhar was produced before a court following his arrest and was remanded in judicial custody. Investigators are now examining the alleged victims, property transfers and bank transactions connected with the case. Police are also working to determine whether other individuals were involved in the alleged network and whether additional properties were targeted using a similar method.
