Director of Eigerbuck arrested for property fraud

By Newsmeter Network  Published on  9 Sep 2020 1:44 PM GMT
Director of Eigerbuck arrested for property fraud

Hyderabad: The sleuths of the Hyderabad central crime station arrested a 37-year-old man in Mokila here on 9 September on charges of property fraud. The accused, Gunti Suman, is the CEO and director of Eigerbuck Private Ltd.

According to the police, in 2005, Raheemuddin had sold a plot of land, located in Lingojiguda under Saroornagar mandal in Ranga Reddy district, to the complainant, Nimmagadda Raja Giridhar Kumar, and three others. However, he also transferred the same property in his daughter's name through a gift deed by slightly modifying the survey number. He then executed sale deeds in favour of Y. Venkata Siva Reddy and three others.

Later, he colluded with Gunti Suman and mortgaged the property, using fake documents, to PNB Bank, Nanalnagar branch, and obtained a loan of Rs. 590 lakhs in the name Eigerbuck Pvt. Ltd. They defaulted on the loan, causing wrongful loss to PNB Bank.

A case was registered under various sections of the IPC. The accused, Gunti Suman, is being sent for judicial remand and further investigation is on, the police said.

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