Hyderabad Police Arrest Loan-Fraud Suspect as Online Investment Scams Face Ongoing Probes

Overview

• Ramgopalpet police arrested Turikepalli Bharath Sai Chandra, 30, for allegedly cheating a woman of over ₹10 lakh and about 190g of gold by promising a ₹2.8 crore bank loan.
• Police said the case was registered on March 2 on a complaint by Rakhi Jain, who alleged the accused posed as an IDFC Bank employee to secure upfront payments.
• Officers reported seizing ₹4 lakh in cash and a car from the accused and freezing another ₹4 lakh in a bank account.
• In a separate case, a 42-year-old Old Bowenpally resident lost ₹86.41 lakh after a contact from a matrimonial app steered him to a fake trading site that gave a small early payout then blocked withdrawals with fee demands.
• Cybercrime officials also recorded a Meerpet complaint of a ₹15.95 lakh loss via a WhatsApp group touting IPO and block-trading gains, while the ED attached ₹26.86 crore in assets in an unrelated SIIPL bank-fraud probe.