Three cyber fraudsters held in hyderabad

Hyderabad: The Cyber Crime police, Cyberabad arrested three cyber fraudsters for allegedly cheating the public in the name of arranging loans at low rate of interest. Officials seized one car and seven mobile phones from the possession of the accused.

The arrested have been identified as Pavan Kumar (26), Rahul Panchal (27) and Mukesh Chakravarthi (26) all natives of Uttar Pradesh.

According to officials, on July 26 a complaint was lodged by one Govind Bhat of Kondapur is which he stated that in the year 2016 he received a phone call from an unknown person enquiring if he needed any loan.

Despite his refusal for availing loan the caller persuaded him and said that they pay loan at a low interest rate of 5 per cent per annum and requested him to pay an amount of Rs 12,999 towards processing fee.

Though he denied, after few days he received a call again that his loan amount has been enhanced from Rs 5 lakh to Rs 10 lakh and insisted him to pay Rs 24,999 towards processing fee.

Though he was not interested to avail the loan, he opted to avail it as the rate of interest is very low. As such he paid said amount initially, and then kept paying the amount asked into the bank accounts provided by accused at regular intervals with the fond hope of getting loan amount.

In total, he paid an amount of Rs 11.20 lakh into different bank accounts provided to him by the accused since 2017.