Rachakonda cops arrest man for deceiving people by promising interest-free loans

The arrested person has been identified as Perasomula Veera Narayana, a resident of Prasasan Nagar in Jubilee Hills, from Chittoor district in Andhra Pradesh. He was taken into custody.

Via the Newsmeter network Published on June 25, 2022 09:15 GMT


Online fraud: Rachakonda cops arrest man for deceiving people by promising interest-free loans

Hyderabad: A 28-year-old man has been arrested by Rachakonda Police Cyber ​​Crime Detectives for deceiving people in the name of providing loans.

A case has been filed against him under various articles of the IPC and computer law.

The arrested person has been identified as Perasomula Veera Narayana, a resident of Prasasan Nagar in Jubilee Hills, from Chittoor district in Andhra Pradesh. He was taken into custody.

A mobile phone and two SIM cards used in the commission of the offense were seized from him.

In April 2022, Mandula Mallesh, a resident of Mothkur in Yadadri-Bhongir, received a call from a “loan officer” from a reputable bank who promised to provide interest-free loans. The caller said he would charge them a 3% commission.

Mr. Mallesh referred some of his friends to the agent. Later, the agent retrieved copies of their Aadhar and PAN cards and registered them at www.ZestMoney.in. He then collated the OTPs they had received into their mobile numbers registered with the bank. Fraudster purchased expensive smartphones from reputable mobile showroom without any down payment and monthly EMIs and tricked victims.

The accused, Perasomula Veera Narayana, came to Hyderabad and produced a film. The film failed and he suffered from a financial crisis. To pay off his debts, he decided to deceive people in the name of granting interest-free loans.

According to his plan, he randomly called unknown numbers and introduced himself as a loan officer working at a reputable company. He told them he would give interest-free loans.

Once the victims answered his calls, they shared their documents and also referred friends to the accused. Later, Narayana collected copies of their Aadhar and PAN cards to process the loan and registered at www.ZestMoney.in on their behalf. He then bought cell phones on EMI taking OTPs from the victims. He sold these phones at discount prices through his associates.

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