Main Accused In A Business Loan Fraud Case Arrested

Hyderabad, July 25 (Maxim News): The sole and principal defendant in a Rs. 1.55 crore business loan fraud case was arrested by the Hyderabad City Cybercrimes squad.

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On February 19, 2025, a 39-year-old Hyderabadi businessman filed a complaint. The victim received a call from the accused in June 2023 after looking online for financial support and funds for his operating business. Business loans were allegedly offered by Nagaraju Devu, who claimed to be the owner of Finpair Solutions Private Limited, located in Mumbai. The victim was then persuaded to make a deposit to cover a number of costs associated with processing his business loan. The victim lost ₹ 1,55,00,000 in total, which was paid in several transactions up to November 2023. The victim has been reminded each since that his loan will shortly be approved. Lastly, the complainant asked for the required action. A case has been filed in response to the complaint.

Under the direction of R.G. Siva Maruthi, ACP, Cyber Crime PS, Hyderabad, the team led by Inspector of Police K. Satish Reddy, Inspector of Police, and comprised of team members P Suresh, SI of Police, HC Venkataramana, PC A. Ramu and PC Shiva Shankar have identified the case. (Maxim News)

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