--- title: "Man held for cheating property owners of ₹10 crore in loan fraud" url: https://projectchintan.com/article/man-held-loan-fraud-telangana-mg7gh publisher: Project Chintan author: Project Chintan Newsroom section: Society published: 2026-08-15T17:00:36.835Z modified: 2026-08-15T20:00:07.284Z language: en-IN --- # Man held for cheating property owners of ₹10 crore in loan fraud A 34-year-old man from Kondapur, Telangana, was arrested for allegedly cheating over 30 people out of about ₹10 crore by promising loans against properties and then transferring those properties. He faces multiple prior cases and was remanded in judicial custody after the arrest. ## Key takeaways - 34-year-old Nunavath Yugandhar was arrested by the CCS EOW in Telangana for a loan-fraud scheme. - The alleged fraud involved more than 30 victims and about ₹10 crore in loans secured against properties. - In one instance, a property was transferred and used to obtain a ₹1.5 crore loan from Axis Bank; notices were issued to repay the loan. - Police indicate the suspect has a history of more than 20 criminal cases since 2016 across Telangana and Andhra Pradesh. - Authorities warned the public to be cautious of fraudulent finance consultancies and improper handling of property documents. ## What Happened The Central Crime Station (CCS) police arrested 34-year-old Nunavath Yugandhar from Kondapur in Ranga Reddy district on allegations of a multi‑year loan-fraud scheme. The Economic Offences Wing (EOW) Team‑V of the CCS Detective Department said he had been involved in more than 20 criminal cases across Telangana and Andhra Pradesh since 2016. Police claim he promised to arrange bank loans against property owned by victims and then used the sale deeds and related documents to transfer those properties to third parties. In one instance cited by investigators, he allegedly provided ₹60 lakh in financial assistance to a complainant and executed a sale deed accompanied by an MoU stating the property would not be sold. Police say he later used that sale deed without the complainant’s knowledge to transfer the property and facilitate a loan of about ₹1.50 crore from Axis Bank by offering the same property as collateral. The bank reportedly sent repayment notices to the complainant, revealing the property had been transferred and used to secure the loan. Yugandhar was remanded in judicial custody after being produced before a court. Public warnings were issued by CCS to caution property owners against fraudulent finance consultancies offering loans against properties and to be cautious with property documents and sale deeds. ## Why It Matters The case highlights risks faced by owners who are promised bank financing against their properties but find their assets transferred or encumbered without consent. It also underscores the role of fraudsters who exploit sale deeds and MOUs to facilitate fraudulent loans, triggering financial and legal disputes for multiple victims. ## Background The accused has a record of involvement in numerous cases across two states since 2016, including criminal and civil matters, as cited by police. The report does not specify the outcomes of those cases beyond noting their existence and the accused’s continued activity in similar schemes. ## Key Facts - Identified suspect: Nunavath Yugandhar, 34, Kondapur, Ranga Reddy district - Amount involved in alleged fraud: about ₹10 crore from more than 30 people - Method: promised loans against properties, then transferred properties to third parties and used documents to secure loans - One example cited: ₹60 lakh given to a complainant; sale deed with MOA indicating no sale; property later transferred; loan of about ₹1.50 crore from Axis Bank Bank action: Axis Bank reportedly issued repayment notices to the complainant after the loan was secured Legal status: Yugandhar arrested by EOW Team‑V of CCS Detective Department and remanded in judicial custody Public advisory: CCS cautioned against fraudulent finance consultancies and improper handling of property documents ## What Happens Next The police have stated that Yugandhar remains in judicial custody following his arrest and court remand. The case record notes prior and ongoing involvement in similar cases, which may influence future legal proceedings and potential charges. --- Canonical: https://projectchintan.com/article/man-held-loan-fraud-telangana-mg7gh Reported from: Multiple Sources