Somajiguda JK Enterprises owners tricked victims into signing over property for loans; 3 held

Hyderabad: In a significant crackdown, Hyderabad City Police arrested three individuals for cheating unsuspecting citizens under the guise of arranging bank loans against property.

The accused manipulated victims into transferring ownership of their properties through fraudulent sale deeds, leading to severe financial loss and legal complications for the victims.

The Special Zonal Crime Team (SZCT) of the Central Crime Station (CCS), Detective Department, Hyderabad, conducted the operation and apprehended the accused on May 19.

Details of accused

Jabbar Khan Munshi Khan (36): Real estate broker and mastermind behind the fraud; resident of Begumpet, Hyderabad; native of Nanded District, Maharashtra.

Khureshi Javed Habibsab (49): Associate, chicken shop owner; also residing in Begumpet.

Saddam Habibsab Kureshi (34): Another associate engaged in the chicken business; native of Nanded District.

Accused made victims sign properties in their names

According to police, Jabbar Khan ran a consultancy named JK Enterprises (JK Financial Solutions) in Somajiguda. He, along with his associates, approached people seeking bank loans against their properties. After inspecting their property documents, Jabbar falsely claimed that the applicants had poor CIBIL scores, rendering them ineligible for loans.

He then convinced victims to register their properties in the names of his associates—presented as a workaround to secure the loan. Using the KYC details of these associates, Jabbar arranged loans by mortgaging the victims’ properties. Although the sanctioned loan amounts were deposited into the victims’ accounts, Jabbar had already collected advance cheques, allowing him to withdraw the entire amount soon after.

Over time, his associates defaulted on the loan repayments, resulting in banks initiating auction proceedings on the properties, leaving victims helpless.

Public advisory

The Hyderabad Police have urged citizens not to approach unauthorised individuals or agencies for property loans.

Citizens are advised to verify the credentials of financial consultants and to only engage with recognised banks and licensed institutions when dealing with property-related transactions.