Sandalwood film producer arrested for cheating bank

Bengaluru: A Kannada movie producer was arrested for duping three banks by taking loans worth Rs 96 lakh by producing colour photocopies of same set of residential property documents to all the three banks.

Police arrested a Sandalwood film producer for duping three banks.

The accused has been identified as Prasanna R.

Seshadripuram police arrested Prasanna on grounds of cheating and forgery case.

The Seshadripuram branch received a complaint by the chief manager of Syndicate Bank against Prasanna. 

Prasanna, who is a movie producer of Beautiful Manasugalu, released in 2017, and co-producer of Neer Dose, released in 2016, is also a grain merchant. 

Since Prasanna needed more money and tried to get the loan amount increased, and did not get through. Then he approached cooperative banks with colour photocopies of the same house documents to get the loan. He was sure that he would easily get the loan as cooperative societies would not check the authenticity of the documents.

He submitted the documents to Daivagna Cooperative Bank and Margadarshi Chits Karnataka Pvt Ltd and got Rs 20 lakh and Rs 38 lakh loan sanctioned a few months later.

The cheating came to light when Syndicate Bank officials verified the documents after he failed to repay the loan and found that he had availed loans by submitting photocopies of the same documents with two other banks.

When bank officials asked Prasanna to explain, he admitted that he had taken loans from the two banks by furnishing photocopies of the same documents he had submitted to Syndicate Bank.