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The Hindu
The Hindu
National
Staff Reporter

Online loan fraudster nabbed

Hyderabad

Cyber-crime police of Rachakonda Commissionerate has arrested a youth hailing from Tirupati in Andhra Pradesh, allegedly for posing as a loan agent and duping people through instant online loans.

P. Veera Narayana, 28, police said, had come to Hyderabad following an interest in Tollywood. He produced a movie, failed miserably and was stuck in debt.

According to police, posing as loan agent of recognised banks, he called up random people, offered zero-interest loans at 3% commission and obtained their proof to process loans. He then used the documents as his own, while obtaining one-time passwords from actual persons, and got instant online personal loans.

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