Hyderabad: 19-year-old falls victim to loan fraud, loses Rs 60,000

Hyderabad: A 19-year-old was cheated under the pretext of offering a loan under the Prime Minister’s employment generation programme (PMEGP). Hyderabad cyber crime police have registered a case, and further investigation is underway.

According to the police, the victim Anwar was approached by the fraudsters who offered him a personal loan under the PMEGP. The fraudster asked the victim to pay money for registration, collateral, and other charges. The victim transferred around Rs 60,000 to the accused. The accused then asked him for more money again, which is when he got suspicious and asked them to return his money. Subsequently, the accused switched off their mobile. After realising that he was cheated, the victim approached the Hyderabad cyber crime police.

The cops have registered the case under section 419 and 420 of the IPC and other relevant sections of the IT Act. Further investigation is underway.