Hyderabad: Cyber Crimes police in Hyderabad have arrested the prime accused in a ₹1.55 crore business loan fraud, in which a city-based entrepreneur was duped under the pretext of securing financial assistance for his company.
The victim, a 39-year-old businessman, lodged a complaint on February 19, alleging that in June 2023 he was contacted by one Nagaraju Devu, who claimed to be the proprietor of Finpair Solutions Pvt. Ltd., based in Mumbai. The accused allegedly promised to arrange a business loan and persuaded the victim to transfer large sums under the guise of processing fees.
Between June and November 2023, the victim transferred a total of ₹1.55 crore in multiple transactions. The complainant was misled with repeated assurances that the loan would soon be sanctioned.
Police said the accused created a fake website finpair.in and advertised on social media platforms to attract potential victims. The case was registered under Crime No. 408/2025 and booked under sections 66C and 66D of the IT Act, along with sections 419 and 420 IPC.
The arrested accused, Nagaraju Devu (44), resides at Honer Vivantis, Gopanpally, Rangareddy district. Two mobile phones were seized from his possession.
The operation was led by Inspector K. Satish Reddy and his team under the supervision of ACP R.G. Siva Maruthi of Cyber Crimes PS.
Public Advisory: Authorities cautioned the public against responding to social media ads offering low-interest loans. Citizens are urged to verify all claims thoroughly and avoid making payments without physical verification. Victims of cyber fraud are advised to call 1930 or visit cybercrime.gov.in.
