Mumbai: Man gets Rs 5k loan, ends up paying Rs 4.28L to loan sharks

The victim was in need of money for the medical treatment of his wife.

Somendra SharmaUpdated: Friday, June 03, 2022, 10:57 PM IST
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Mumbai: Man gets Rs 5k loan, ends up paying Rs 4.28L to loan sharks | Photo: Representative Image

At first, a victim of mobile loan fraud was induced by the loan recovery agents to download other mobile loan apps, take loans from them and repay later. The 28-year-old victim further got harassed by the other loan sharks and the victim, who had initially got a loan of Rs 5,000, ended up paying Rs 4.28 lakhs to the loan sharks. The victim was in need of money for the medical treatment of his wife.

According to the Chunabhatti police, the victim originally hails from Nagpur and works in a hotel in Mumbai as a kitchen supervisor. While the victim stays in Mumbai, his family stays in Nagpur. The victim in his complaint stated that he was in need of money for his wife's medical treatment. On March 28, the victim downloaded a mobile loan app on his phone. After allowing access to his phone to the app, the victim shared his photograph, identity and bank details on the app.

The victim was in need of Rs 50,000 to meet his expenditures, however, he only received Rs 5000 in his bank account through the app. The victim was supposed to repay Rs 8,200 in a week. On April 02, the victim repaid the said amount, but he continued to receive messages asking him to repay the loan amount. The loan recovery agents then began sending the victim's morphed obscene photograph with him and also threatened to share the said photograph with those in his contact list.

Then began his ordeal after he had started receiving calls and messages from 200 to 250 recovery agents asking him to repay the money. They forced the victim to download at least 15 other loan apps, take a loan from them and repay the loan. The victim followed this instruction and started getting further exploited and harassed. The victim ended up paying Rs 4.28 lakh to the loan sharks and when the harassment continued, he lodged a police complaint. Chunabhatti police are probing the case.

The police have registered a case on charges of punishment for extortion, putting a person in fear of injury in order to commit extortion, punishment for defamation, intentional insult with intent to provoke breach of the peace, punishment for criminal intimidation and punishment for publishing or transmitting obscene material in electronic form.

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