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Rs 92 lakh cheated on the promise of Rs 75 cr loan, one held

Sastri Nagar police have arrested a 31-year-old man and have launched a hint for his accomplices who together cheated a manager of a pharmaceutical company to the tune of Rs 92 lakh on the promise of getting him a loan of Rs 75 crore from banks.

Rs 92 lakh cheated on the promise of Rs 75 cr loan, one held
V Nagaraj


Police said that the arrested V Nagaraj of R A Puram already has a cheating case pending against him in CCB and added that he has also cheated people claiming to be the grandson of former Governor K Rosaiah. 

The victim Mohamed Noordhin had alleged that he got introduced to Nagaraj through a common friend in 2019. Since Nagaraj convinced him to get a loan of Ra 75 crore to expand Mohamed's business, the latter allegedly paid hin Rs 6.5 lakh as processing fee and Rs 60 lakh as stamp duty. Nagaraj also bought diamond jewels and received another Ra 3.5 lakh from Mohamed, but did not fulfil his promise. Since the cheques issued by the accused were dishonoured at the bank, the victim lodged a complaint at Sastri Nagar police station. Though the case should have ideally been transferred to CCB, Sastri Nagar police received special permission to investigate the case. Nagaraj was secured on Sunday and remanded in judicial custody on Monday, a hunt has been launched for accomplices including a woman.

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