Hyderabad: Businessman held in Rs 1.5-crore loan fraud case
Nagaraju Devu reportedly contacted the complainant, a trader from Hyderabad, offering a business loan; he cheated the complainant in the guise of various fee payments for processing the loan
Hyderabad: The Hyderabad Cybercrime police nabbed a businessman in connection with a Rs 1.5 crore loan fraud case on Friday.
The arrested person was identified as Nagaraju Devu, owner of Finpair Solutions Private Limited in Mumbai and currently residing in Gopanpally.
Police said Nagaraju created a fake website and also gave advertisements on social media and thereby contacted the complainant, who is a trader from Hyderabad, offering a business loan.
“He collected money in the guise of various fee payments for processing his business loan and cheated the complainant,” the police said.
Following a complaint, the Cybercrime police booked a case and nabbed him.
