Hyderabad: Cyber fraudster arrested for cheating man to tune of Rs 17 lakh

A cyber fraudster who cheated a man of Rs. 17 lakh on pretext of providing loans of Rs. 9 crore at one per cent interest rate was arrested

Hyderabad: A cyber fraudster who cheated a man of Rs. 17 lakh on pretext of providing loans of Rs. 9 crore at one per cent interest rate was arrested by the Rachakonda Cybercrime police on Thursday.

Ramesh Elumalai (38), a resident of Tamil Nadu had contacted the victim who is a resident of LB Nagar through WhatsApp and assured him a loan of Rs. 9 crore for business purpose at one per cent interest rate through a bank.

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“After convincing the victim, the fraudster asked him to transfer Rs 9 lakh and Rs. 8 lakh to him on different instances towards processing fee and GST. Later, he stopped contact with him,” said ACP Cybercrime S V Hari Krishna.

On a complaint the police booked a case and caught Ramesh in Chennai. He was arrested and remanded. Previously, he was involved in cases registered at Cyberabad Cybercrime police station and KPHB police station limits.