Couple Arrested in Rs 1.12 Crore Loan Fraud Scheme

A couple was arrested for defrauding businessmen by promising loans at discounted rates. Identified as Shivaji Patil and Angela Kujur, they allegedly extorted Rs 1.12 crore, including Rs 70 lakh from Sarojkant Jha in Jharkhand and Rs 42 lakh from a businessman in Odisha.

A couple was apprehended for allegedly defrauding two businessmen of Rs 1.12 crore by promising them loans at rates lower than banks usually offer, police announced on Sunday. Identified as Shivaji Patil alias Amit Mahato and his wife Angela Kujur, both 42, they are residents of the Sukurhutu area under Kanke police station's jurisdiction. The arrest occurred on Friday, police reported.

According to Praveen Pushkar, Superintendent of Police (Rural), the couple swindled businessmen by offering loans at discounted rates, including an incident where they defrauded Rs 70 lakh from Sarojkant Jha, a businessman from Jharkhand's Ramgarh district. Additionally, they extorted Rs 42 lakh from another businessman from Odisha. Their tactic involved targeting prominent businessmen by enticing them with promises of large loans at reduced interest rates and processing fees.

The Superintendent also noted that a comprehensive investigation is in progress, and the accused have been remanded in custody. Meanwhile, Prakash Rajak, the officer in charge of the Kanke police station, confirmed that Sarojkant Jha had filed an FIR in May concerning the fraud.

(With inputs from agencies.)