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Hyderabad: Man duped of Rs 9.5 lakh in loan fraud; three arrested

Police seized 8 mobile phones, 24 debit/credit cards of different banks, 3 bank passbooks, 10 cheque books of different banks, and Rs 2 lakh cash from the accused's possession.

By: Express Web Desk | Hyderabad |
July 21, 2021 12:00:59 pm
The trio allegedly lured the complainant into depositing up to Rs 9.5 lakh in their bank account by citing various charges.

The Hyderabad police arrested three persons from Delhi for allegedly cheating a local businessman under the pretext of facilitating loans from a private finance firm.

The accused have been identified as Vijay Dhawan (27), Kapil Tagore(28), and Abhay Verma(20). The trio allegedly lured the complainant into depositing up to Rs 9.5 lakh in their bank account by citing various charges.

According to the police, the complainant was in need of funds to clear his debts. After the accused offered him a personal loan from Bajaj Finance Ltd, he transferred Rs 9.44 lakh to bank accounts as directed by the trio. Even after transferring the funds, the accused kept pressurizing him for more money. Realizing the fraud, he approached the police.

Police seized 8 mobile phones, 24 debit/credit cards of different banks, 3 bank passbooks, 10 cheque books of different banks, and Rs 2 lakh cash from the accused’s possession.

According to the police, Dhawan earlier worked in a call center where the management encouraged telecallers to cheat people in the name of offering loans. After he lost his job to lockdown, he decided to do the same fraud on his own. Tagore and Verma joined him and they started calling random people from southern states and succeeded in collecting amounts in the name of loan processing charges.

The police cautioned the public not to transfer funds in advance while responding to online fraudsters, who pretend to provide loans at very low interest impersonating reputed finance companies.

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