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Call money racket: six more arrested in city:

In the continuing raids on call money operators, the city police raided 25 premises of daily financiers and arrested six persons during Wednesday and Thursday. They are on the lookout for 16 others who are still at large.
The police have so far registered 16 cases in connection with the call money racket and are examining the facts in 25 more cases to register cases against the moneylenders.
The police are said to have recovered about 165 blank promissory notes, 60 blank cheques, and around 150 loan and log books, about Rs.2 lakh in cash, 42 gm gold ornaments, and two vehicles from the 25 financiers.
Of the 25 financiers, three belong to YSRC and two to the TDP, while the others had no political affiliation.
Sources said that over 500 financiers from Anakapalle and over 1,000 financiers from Anaparthi in East Godavari district were running the finance business in Visakhapatnam.
Call money is an instant loan available over a phone, where the lenders visit the homes with money, promissory note and other documents and the interest rate usually ranges from 100 to 200 per cent depending on the desperation of the borrower.

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