Superintendent of Police Kiran Khare said that stringent action would be taken against those who collect hefty rates of interest by running illegal finance firms.

Bhupalpally: Twelve persons were booked for allegedly fleecing the public by charging exorbitant rates of interest by lending loans. Funds Rs 3.71 lakh and documents including leaves of cheque, debit cards, bond papers and land titles, promissory notes were seized in raids conducted on the homes of the financiers by police simultaneously in Prof Jayashankar Bhupalpally district centre, Kataram and Mahadevapur mandals on Wednesday night.

In a statement, Superintendent of Police Kiran Khare said that stringent action would be taken against those who collect hefty rates of interest by running illegal finance firms. He advised the people not to trust illegal money lenders who were fleecing the gullible customers. He requested the victims to approach the police. Identity of the victims would not be disclosed, he added.

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DSPs A Sampath Rao, and G Rammohan, Inspectors Naresh Kumar, Nagarjuna Rao, Rajeshwar Rao, Ravinder and several sub-inspectors took part in the raids.