Printing Press Owner Duped in Rs 14 Lakh Loan Scam

A printing press owner in Mumbai was allegedly cheated out of Rs 14 lakh by Kaushik Lathia, who promised a Rs 7 crore business loan under false pretenses. Lathia requested money for stamp duty charges but disappeared after payment. An FIR has been filed, but no arrests have been made yet.

A printing press owner in Mumbai has reportedly fallen victim to a Rs 14 lakh fraud. The scam involved an individual, named Kaushik Lathia, offering a bogus Rs 7 crore business loan under the guise of lower interest rates, the Navi Mumbai Police revealed on Monday.

Lathia, according to police sources, initially approached the victim in February, proposing to facilitate the substantial loan. He persuaded the victim to transfer Rs 14 lakh ostensibly for stamp duty charges. However, after the transaction, Lathia ceased all communication with the victim.

The police have registered a First Information Report (FIR) after the victim filed a complaint, accusing Lathia of cheating and infringing the Information Technology Act. Despite these developments, authorities have yet to make any arrests.

(With inputs from agencies.)