Thane CSR Loan Scam: Four Accused in Rs 97.75 Lakh Fraud

In a significant fraud case, the police in Thane's Badlapur area have registered a case against four individuals for allegedly cheating an interior decorator of Rs 97.75 lakh.

According to officials, the accused convinced their 45-year-old victim by promising a substantial business loan of Rs 2.75 crore sourced from Corporate Social Responsibility (CSR) funds.

Upon gaining his trust, they urged the decorator to deposit a bank guarantee, leading him to pay Rs 99.25 lakh. However, the loan never materialized, and only Rs 1.5 lakh was partially refunded. The decorator filed a police complaint on Monday, and efforts to locate the suspects are underway.

(With inputs from agencies.)