Vijayawada, June 23: The Vijayawada City Police have arrested a racket of six persons here on Thursday for selling of fake TDR (Transfer of Development Rights) bonds including Vijayawada Municipal Corporation attended P.Samuel Rajasekhar, 45, the kingpin.
Presenting the accused before the media here on Thursday, DCP G. Pala Raju said they had been making duplicates of a few TDR bonds that were stolen by the prime accused from the town planning section of the VMC during 2013-14.
Mr. Pala Raju said Rajasekhar, during his stint in the section, had stolen the original copies of two TDR bonds and sold them to Kandula Suresh for Rs.2 lakh.
Later in 2015, another set of TDR bonds of a property owner Dhanekula Nagendra Babu was stolen and duplicated by Rajasekhar and Suresh using color photocopying machines.
Suresh, who kept a copy with him, sold it at a higher price.
This has prompted Rajasekhar to sell another copy to Suvarna Ratnaraju and his relative Edwin Samuel for a much higher price.
Rajasekhar later teamed up with V. Ramesh and created fake bonds. Rajasekhar's cousin B. Anil, his friends Suvarna Raju and M. Venkatrao joined the club and started making fake stamp papers and TDR bonds.
They sold the fake documents to Sandireddy Nagendra for Rs. 34 lakh and to J. Venkata Subramanyam for Rs. 25 lakh in separate deals.
The police arrested Rajasekhar, Ramesh, Anil, Ratna Raju, Venkatrao, and Edwin and seized the fake bonds, stamp papers and rubber stamps of the town planning department from them after investigating into the complaint lodged by Mr.Nagendra Babu.
The original bonds and other documents were restored to respective property owners.