Hyderabad moneylender held in Adilabad for registering borrower’s house in his name
A Hyderabad moneylender, Mohammad Tashawar, was arrested in Adilabad for allegedly transferring borrower Yasmin Firdouse’s house to his name. She had borrowed Rs 15 lakh at 6% interest. Police warned the public against exploitative moneylenders
Adilabad: A moneylender from Hyderabad was arrested for allegedly registering an asset of his borrower in his name here on Tuesday.
Adilabad II town Inspector K Nagaraju said Mohammad Tashawar was apprehended for transferring the house of Yasmin Firdouse of the town in return of his loan. A case was registered against Tashawar and investigations were taken up.
Yasmin had borrowed Rs 15 lakh from Tashawar at an interest rate of 6 per cent to fund her brother-in-law’s wedding in May last year. She approached the police after being charged an exorbitant rate of interest and forced to transfer her asset to the moneylender.
The police have advised the public to be cautious of fleecing moneylenders, and urged victims to seek support from the police if harassed.