Mangaluru: Three arrested on the charge of extortion

Mangaluru: Three arrested on the charge of extortion

Mangalore Today News Network

Mangaluru, Feb 21, 2022: The Mangaluru East Police have arrested three people on the charge of extortion and charging exorbitant rate of interest.

According to a complainant from Swaroopa N. Shetty, a computer training centre operator and resident of Nanthoor in the city, she is running a computer training centre at Jeppu. A mother of one of her students approached her for financial assistance in the form of loan.

 

She arranged ₹10 lakh loan to the student’s mother through Sharmila (48), a resident of Jeppinamogaru, at a rate of 10% interest per month. Even after repaying the entire loan with interest, the lender continued to blackmail and harass the complainant for more money, the complainant said and added that the lender extorted ₹50 lakh in all from her, since 2016.

Based on the complaint, the police arrested Sharmila, Mohandas (52), also a resident of Jeppinamogaru, and Sai Kumar (52), a resident of Bantwal, under various provisions of the Indian Penal Code, including extortion and criminal trespass, and Sections 3 and 4 of Karnataka Prohibition of Charging Exorbitant Interest Act 2004.

Courtesy:The Hindu