Man duped of Rs 5.7 lakh in loan scam

Udupi: A 38-year-old man from Kundapur allegedly lost over Rs 5.7 lakh after falling victim to an online loan scam. The accused reportedly promised to arrange a Rs 40 lakh loan and collected money under various pretexts. The victim hailing from Kelakharvikeri, Kasaba village, Kundapur, stated that on March 10, while browsing Facebook on his mobile phone, he came across an advertisement claiming to provide loans under the PMGDY scheme. The advertisement instructed interested persons to contact a mobile number. When the complainant called the number, the person on the other end identified himself as Srinivas Rao. The accused allegedly promised to arrange a loan of Rs 40 lakh and informed the complainant that certain payments had to be made in advance to process the loan.

Believing the claim, the complainant transferred a total of Rs 5.7 lakh through PhonePe to bank accounts specified by the accused between March 11 and April 13.

However, no loan amount was ever disbursed. When the complainant later demanded a refund, the accused allegedly asked him to deposit more money instead. The complainant delayed filing the complaint as he first discussed the matter with his relatives. Based on the complaint, Kundapur police have registered a case under Sections 318(4) (cheating) and 316(2) (criminal breach of trust) of the BNS.