Financier held for charging exorbitant interest

NT Correspondent
Bengaluru:

A private financier, who had been allegedly harassing his customers by charging exorbitant interest rates, was arrested by the Economic Offences Wing of the Central Crime Branch (CCB) Bengaluru. The accused was identified as Sudarshan, a resident of HSR Layout in the city.

The arrest was based on a complaint filed at the jurisdictional police station by one of the victims of the accused. However, the case was later taken over by the CCB. The police said that the accused used to lend money to those in dire need of financial assistance, but used to collect documents of movable and immovable properties towards surety.

Raiding the house of the accused, the officers recovered several documents, including the customer’s vehicle documents, form no. 29, The police said they seized blank cheques with signatures and a few demand promissory notes apart from Rs 33 lakh in cash.