A film producer-cum-realtor was nabbed in Hyderabad on Sunday for allegedly cheating people by promising them loans for construction purposes.
Shaik Bahseed had started a finance firm here to grant loans for construction purposes, but used to lend money to film distributors here as well as in Chennai, police said.
He produced nine Telugu films and also co-produced four Telugu films, besides acting as a hero in a movie in 2014, which was released in Telegu and Kannada languages, police said in a release here.
His modus operandi was to tell those who approached him for loans that he had offices at various places like Mumbai, Chennai, Bengaluru and Dubai and collect money in the name of ‘processing fees’ and ‘registration challan amount.’
After collecting the money, he would not respond to them, police said.
Bahseed also collected money from people interested in working in the film industry by giving them fake assurance and promises, they said.
Police said he was nabbed following their probe into two cases against him in June and November 2019 that he had cheated two people of Rs 65 lakh and Rs 32.5 lakh after collecting money from them with the false promise of sanctioning loans for their construction business.