Shajapur (Madhya Pradesh): A case of fraud worth crores of rupees in the name of payment app has been unearthed in Shajapur district. The accused has been identified as Rahul Singh who works as team leader of payment app. He deceived more than 100 traders by providing them interest-free loans. Rahul asked these traders to deposit an amount in his bank account in the name of FD for these loans.
The scam came to fore after banks concerned started deducting monthly installment of the loan from traders’ accounts. By then, the accused had already escaped from the town. A few traders lodged complaint with the Kotwali police station and cyber cell. However, a large number of victims the traders opted to remain silent fearing humiliation. As per the preliminary investigation, accused cheated more than Rs 2.5 crore from more than 100 small and big traders in the name of payment app. When contacted, ASP TS Baghel said that complaint had been received and further action would be taken after investigation.
During initial investigation it was revealed that the accused hailed from Panchvati Colony of Bhopal. Currently, he lived with his maternal uncle near Sarangpur village of Shajapur district. He was in daily contact with many businessmen in Shajapur for the last two years and had won their trust.