Hyderabad: UP youngster arrested for loan fraud

Hyderabad: The Rachakonda Cybercrime police arrested a youngster from Uttar Pradesh on charges of cheating people after promising loans at lower interest rates. The arrested person, Vikas Dixit (20), from Ghaziabad, had gone to Delhi in search of work and was working in a mobile repair shop last year. He came in contact with one […]

Hyderabad: The Rachakonda Cybercrime police arrested a youngster from Uttar Pradesh on charges of cheating people after promising loans at lower interest rates.

The arrested person, Vikas Dixit (20), from Ghaziabad, had gone to Delhi in search of work and was working in a mobile repair shop last year. He came in contact with one Kanha Sharma, with whom he joined hands and the two began committing loan frauds.

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On the instructions of Sharma, Dixit opened bank accounts in different banks on his name and provided their details. The money collected from victims of loan frauds are diverted into these accounts, which the two withdrew and used.

“Sharma posted fake advertisements on social media promising loans at low interest rates without any security. They collected money from people on the pretext of different charges and gave fake loan approval letters,” an official said, adding that recently, they cheated a person from Choutuppal of Rs 3.9 lakh after promising a loan. Following a complaint, a case was booked and with the help of technical evidence, Dixit was held.
Efforts are on to nab Sharma.

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