Man held for cheating people by offering loans

Man held for cheating people by offering loans

Agency News

New Delhi, Jul 31: Delhi Police on Wednesday arrested a 56-year-old man for allegedly inducing general public to give money on pretext of loan, to be returned at exorbitantly high rate of interest against post dated cheques.

The man has been identified as Pawan Kumar Verma who runs a jewellery shop in Vasant Kunj used to take money in the form of cash, cheques, gold coins, gold jewellery at prevailing rate of gold.

This way he has cheated a large number of victims, the police sources said.A case had been registered against him at the Police Station Economic Offences Wing of the Delhi Police under sections 406/420 of the Indian Penal Code.Further probe is underway.(UNI)