Person borrows Rs 2000 from loan app, ends up paying Rs 15 lakh

A person who got an online loan of Rs 2,000 has lost more than Rs 15 lakh due to fear of threats from fraudsters.

Chikkaballapur(Karnataka):A person who got an online loan of Rs 2,000 has lost more than Rs 15 lakh due to fear of threats from fraudsters. Azmat Ullah (37), who works as a supervisor at Nandini Dairy near Belaganahalli in the taluk and lives in Tippunagar of Chintamani city needed some money a few months ago. The man applied for a loan of Rs 2,000 on the online 'MAJIC LOAN APP'. Since then, he claims he has paid more than 15 lakhs in the form of interest for the meagre amount.

According to sources, Azmat borrowed Rs 2,000 through the app and paid Rs 3,500 as interest. Azmat Ullah's Aadhaar card and PAN card were obtained by online fraudsters of the app while he was getting the loan. By misusing Aadhaar and PAN cards, they obtained lakhs of rupees through more than 20 different loan apps.

Even though he did not get any loan, the loan app fraudsters forced him to pay lakhs of rupees. Azmat was threatened that his doctored nude pictures with women to his family members and friends if he did not pay. Frightened by this, Azmat borrowed Rs 14.5 lakhs from his friends from his SBI bank account and transferred approximately Rs 15.5 lakh to the fraudster's account.

Fraudsters again threatened Azmat and said that they would send nude pictures to his friends. Following the persistent threats, Azmat filed a complaint at the Chintamani city police station.