2 nabbed in Delhi for cheating by promising personal loans

Two officials of Delhi-based private firms were arrested from the national capital by Cyber Crime police for allegedly duping hundreds of people across the country of about Rs two crore by promising loans on low interest and collecting hefty processing fees.
The Cyber Crime Special team arrested Manish Tandon and Puneeth Mukhija, the managing trustee and the floor leader, respectively, of Priyansh Foundation, Dial Easy Network, Care India Foundation and some other firms based in Delhi, a release issued here stated.
Rs 28 lakh in cash, two laptops, two cell phones and 28 landline phones were recovered from the possession of the accused, it said.

Tele-callers employed by these firms offered personal loans at a low rate of interest and without any collateral.
When someone expressed interest in obtaining a loan, he or she was asked to send 'processing fee' ranging between Rs 15,000 and Rs five lakh.
After receiving the money, the tele-callers would change their SIMs and become inaccessible, leaving the loan-seeker high and dry.
Hyderabad police started probe after a local person filed a complaint.
The accused were subsequently brought to Hyderabad on transit warrants.