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The Hindu
The Hindu
National
Special Correspondent

CCB arrests financier on charge of harassing public by charging high rate of interest

The Economic Offences Wing of the Central Crime Branch (CCB) on Monday arrested a private financier, who allegedly harassed the public by charging exorbitant interest rates.

Unable to bear the harassment, one of the victims filed a complaint with the HSR Layout police and the case was taken over by the CCB.

A team of officials on Monday raided the house of Sudarshan N. in HSR Layout and seized ₹33 lakh in cash and other documents, including those related to movable and immovable properties, blank cheques, and promissory notes of victims.

According to the police, the accused would offer quick loans charging exorbitant interest rates and take documents of movable and immovable properties as collateral surety. The accused has been taken into custody for further investigation.

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