Hyderabad Software Engineer Arrested in Online Loan Fraud; Police Trace 30 Victims

Hyderabad: A software engineer from Hyderabad has been arrested for his alleged involvement in an online loan fraud racket that duped dozens of people by promising low-interest loans through social media advertisements.

According to the police, the case came to light after Mesram Praveen, a resident of Ankoli village under the Adilabad Rural Police Station limits, clicked on an online advertisement offering loans at low interest rates while watching Instagram Reels.

Soon after clicking the advertisement, Praveen received a WhatsApp call from the fraudsters, who convinced him to pay various charges, including processing fees, loan approval fees, EMI charges, and service charges. Believing the offer to be genuine, he transferred ₹17,951 to the accused.

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However, when the promised loan was never sanctioned, Praveen realized he had been cheated and lodged a complaint with the Adilabad Rural Police.

During the investigation, police uncovered a larger cyber fraud network and found that at least 30 other people had fallen victim to the same scam.

The investigation led to the arrest of Talari Akash, a software employee from Musheerabad in Hyderabad, who is allegedly one of the key accused in the racket. Police said four other suspects have also been identified and are currently absconding.

Authorities have launched a search operation to apprehend the remaining accused and recover the defrauded money. Police have also urged the public to remain cautious while responding to online loan advertisements and to verify the authenticity of lending platforms before making any payments.

The investigation is ongoing, and officials believe more victims may come forward as the probe progresses.