Gurugram Police Crack Down on Loan Shark Syndicate
Gurugram police have apprehended five individuals involved in an extortion racket, charging high-interest rates on loans. The suspects illegally collected Rs 15 lakh after lending Rs 7 lakh, demanding an additional Rs 25 lakh. Victims experienced threats and assault, leading to their arrest.
- Country:
- India
In a significant move against illegal money lending practices, Gurugram police have arrested five individuals accused of extortion and charging exorbitant interest rates. This comes after complaints of severe harassment and threats from victims who had borrowed money from the accused parties.
The arrested individuals, identified as Krishan alias Nitin and others from Rohtak, allegedly lent Rs 7 lakh to a borrower at a 20% interest rate and collected Rs 15 lakh but continued extorting for more. The situation escalated with threats and attempted theft, prompting police intervention.
The police have been investigating the syndicate since allegations emerged, revealing the moneylenders' operations began in 2022-23. The authorities are working to unravel the full extent of their activities and hold them accountable.
(With inputs from agencies.)
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- Gurugram
- police
- extortion
- moneylenders
- loans
- interest rates
- arrest
- harassment
- threats
- charges
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