Gwalior Businessman Duped Of ₹8.91 Lakh Via Fake Loan Apps In Cyber Fraud

Gwalior (Madhya Pradesh): A businessman was duped of ₹8.91 lakh by cybercriminals who lured him with a fake online loan in Madhya Pradesh's Gwalior.

The incident happend in Gende Wali Sadak in the Jiwajiganj area under the Janakganj police station limits in Gwalior.

According to the report, the victim identified as 38-year-old Shafiq Khan, on February 22 he received calls from two unknown numbers on WhatsApp.

The callers assured him that an online loan could be arranged immediately. Facing a financial need, Shafiq agreed to take a loan of ₹20k.

Received only ₹9k instead of ₹20k

The fraudsters sent a link and had him download a fake loan app on his mobile. After completing the process, only ₹9k was deposited into Shafiq's account instead of the promised ₹20k.

Although he repaid this amount on time, he began receiving persistent recovery calls from various numbers demanding additional money.

When Shafiq refused to pay the extra amount, the cyber fraudsters began threatening him. The accused claimed to possess all his mobile data, photos, and contact list.

The accused made Shafiq download several other fraudulent loan apps. While a total of only ₹30k to ₹35k was credited to his account through these apps, they demanded lakhs of rupees in return.

Shafiq borrowed money from relatives and secured loans from other institutions, transferring a total of ₹8.91 lakh to the accused's accounts across approximately 130 separate transactions between March 1 and June 6.

Distressed by the persistent blackmail and financial loss, Shafiq lodged a complaint with the cyber helpline.

Based on the complaint, the Janakganj police registered a case of cyber fraud and initiated an investigation.

The police are currently working to identify and apprehend the accused.