Navi Mumbai man duped of Rs 90,000 in instant loan fraud

A 56-year-old man from Navi Mumbai was allegedly duped of Rs 90,000 by online fraudsters on the pretext of providing an instant loan, police said on Monday. When the complaint did not receive the loan amount and was asked to make additional payments, he realised he had been cheated, he said, adding that a probe is underway.

A 56-year-old man from Navi Mumbai was allegedly duped of Rs 90,000 by online fraudsters on the pretext of providing an instant loan, police said on Monday. An offence under section 420 (cheating) of the Indian Penal Code and Information Technology Act was registered against unidentified persons at Kalamboli police station on Saturday, an official said.

The complainant, who works with a logistics company, claimed that he was seeking a loan for his daughter's education when he came across a post on Facebook about loans that were made available within two hours, he said. The complainant applied for a loan online with the finance company on November 8, and within minutes, he got a call in which the caller offered him a loan and asked him to pay insurance charges, GST, NOC charges, RBI charges and two advance instalments, totalling Rs 90,000, the official said. When the complaint did not receive the loan amount and was asked to make additional payments, he realised he had been cheated, he said, adding that a probe is underway.