Credit card fraud: 10 held, Rs 6.9 lakh seized

Hyderabad, (Telangana) [India], Feb. 22: The police authorities busted a gang involved in credit card frauds and arrested ten people here on Thursday.

They seized Rs 6.9 lakh in cash and incriminating materials to the tune of Rs 1.5 crore, which were bought using 125 credit cards from several public and private sector banks.

The gang, which floated a fictitious company- Parnika Nano System Pvt, Ltd, created an employee database with strange names to avoid detection.

The police authorities also seized 19 mobile phones, three CPUs, three computer monitors, two colour printers, one laptop and nine fake voter identity cards. (ANI)

This story has not been edited. It has been published as provided by ANI