Hyderabad: A private financier who was absconding in a case under the Money Lenders Act at Saroornagar for the last two months has been caught by the police on Wednesday.
Saroornagar inspector N. Rangaswamy said that a case (Cr no. 476/2018) was registered against Viswaraj Jaiswal, his brother Hemraj Jaiswal and nephew Sai Baba for running a money lending business illegally.
The trio collected high rates of interest from needy customers by providing loans. They were allegedly accepting blank cheques, sale deeds, patta passbooks, vehicle registration certificates, title deeds and blank promissory notes from customers as surety and security by violating the Money Lenders Act, the inspector said.
“They cheated and extorted the properties of the public, and were also involved in the the sexual assault of women. Hemraj and his son Sai Baba were arrested on June 11, while Viswaraj went absconding. Viswaraj was arrested on Wednesday and is being produced before court,” said the inspector.