Online Loan Fraud: Five Arrested In Hyderabad
- Hyderabad City Cyber Crime Police bust online loan fraud gang
- Accused used Mudra loan ads, duped victims via social media
Hyderabad: The Hyderabad City Cyber Crime Police arrested five persons for their alleged role in an online loan fraud. Police said the accused duped innocent people in the name of online loans. The City Cyber Crime Police conducted a key operation and arrested the accused.
Police identified the arrested accused as Bochu Arun, Gaddam Bharat, Samarla Tirupati, Velpugonda Tarun and Chukka Shyam from Warangal district. It is reported that all of them used to quit their studies midway and earn a living by doing daily jobs. However, the investigation revealed that they had committed such frauds in the hope of earning easy money.
Meanwhile, the case came to light after a woman from Hyderabad responded to a loan advertisement on Instagram. The next day, one of the accused, Kila Pawan Kumar, introduced himself as an officer of Mudra Loan Services. He assured her that a loan of Rs 3 lakh had been sanctioned. He collected Aadhaar and PAN details while saying that there was no processing fee. He then collected a total of Rs 1,08,274 from her in the name of insurance, TDS and other charges. Later, when the victim said that she did not want the loan, he demanded more money in the name of a cancellation fee. Therefore, she approached the police.
Police said the accused formed a gang and advertised on social media in the name of Mudra loan and other online loans. Investigation revealed that they lured people by promising interest free loans and no upfront payments. They collected personal data from those who showed interest and targeted them state wise. Moreover, police said they made phone calls to victims from Kolkata and Delhi.
Further investigation revealed that the accused collected money in the name of processing fees, TDS and income tax charges. A person named Krishna alias Kittu provided them accommodation in Kolkata and trained them in committing these frauds.
The accused made 180 to 200 phone calls daily and robbed victims. Police also found that they paid 30 percent commission to Krishna from the collected amount. Police are now warning the public to be careful and not fall prey to such frauds.
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