School Dropout cheats Private Banks of Rs. 6.4 million!!

Criminal smarts are not beholden to education intellect.  Here is a female who hasnt studied beyond Class 10 and is as young as 27 and has already duped private banks in India (run by arguably the smartest folks in finance) of Rs 6.4 million!  She was finally caught when Citibank sent cops to WIPRO to catch 3 employees who had run off with Rs 3 lakhs.  Well.. no such employees ever existed!  Then the cops started tracing further.. and reached Hemlatha.

Here is her modus operandi:

"Hemalatha runs a paying guest house, where mostly women software engineers stay. Before taking them in, she would obtain their photos and forge documents using those photos. She has created a library of fraudulent appointment letters, salary details and other documents which look like originals," DCP Central B N S Reddy said.

Hemalatha had been managing the P-G house for the last four years and raised loans in ICICI (Rs 39 lakh), Citibank (Rs 25 lakh) and StanChart. The police said Hemalatha was a pawn in the racket and the real kingpin is still missing. She was not involved in the printing of fake papers of Wipro and other firms. Her boss, identified as Suresh, provided her forged papers. He always called her from public phone booths, and never revealed his cellphone number.