Gang involved in a large-scale loan fraud busted

A gang of eight involved in a large-scale loan fraud was busted on Thursday in a joint operation by sleuths of Telangana Cyber Security Bureau (TGCSB) and Kothakota police.  

In July, a complainant was duped of ₹12,250 in guise of ‘fee for the sanction of the PM Vishwakarma loan of ₹1 lakh’ which he had applied for in January.  

According to the police, the fraudsters primarily targeted Telugu-speaking individuals and were identified in 55 FIRs and 373 National Cybercrime Reporting Portal (NCRP) across the States for duping people in names Mudra and Dhani loans.  As many as 26 mobile phones and four two-wheelers were seized from them.  

Varthiyavath Narsingh, 23, Rathlavath Ramesh, 32, Pothulapally Kurumurthy, 28, Eslavath Ramulu alias Babu, 32, Kothapally Umesh, 25, Boya Veeresh, 24, Eslavath Suraj alias Balu, 18 and Varthiyavath Praveen, 18, were arrested by the police following a complaint from a resident of Kothakota.  

Following the arrest, the TGCSB has issued a public advisory cautioning citizens against sending money towards processing fee, registration, Income Tax and GST among others for obtaining loans from Mudra, Dhani or any other loan provider.