India News | Thane Businessman Loses Rs 22 Lakh in Loan Fraud

Thane, Mar 26 (PTI) A fraudster has allegedly cheated a trader in Maharashtra's Thane district of Rs 22 lakh after promising to get him a loan of Rs 10 crore, police said on Wednesday.

The police did not specify the victim's business and the reason for availing the loan.

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The accused got in touch with the 50-year-old trader, resident of Ambernath area here, between March and July last year and offered to get him the high value loan, an official from Shivaji Nagar police station said.

Under the pretext of facilitating the process, the accused demanded commission fees and other charges amounting to Rs 22,07,180.

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The victim paid the amount, but later found the documents provided for the loan process were forged, the official said.

The trader could neither secure the loan nor got his money back.

Based on his complaint, the police on Tuesday registered a case against the accused under relevant legal provisions for cheating and forgery, the official said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)