PUNE: The city’s crime branch has arrested an unauthorized money lender after a Yerawada-based event management businessman filed a complaint accusing him of raising Rs15 lakh up to present against a loan of Rs5 lakh contracted in 2019 and to continue to demand Rs8 lakh more.
Criminal Branch Inspector Jayant Rajurkar said on Wednesday: “Riyaz Ahmed Muhammad Ali Sheikh (38) said in his complaint to Yerawada Police that he took a loan of Rs 5 lakh from Chandannagar resident Datta Gokul Waghmare (29) to purchase electronics for his business .”
He said: “After a nationwide lockdown was declared in early 2020 due to the pandemic, Shaikh struggled to pay EMIs for a few months. Thereafter he regularly paid EMIs to the tune of Rs15 lakh in total. But Waghmare continued to threaten and demand payment of Rs8 lakh from him.”
Shaikh recently called a special number from the Pune Police Commissioner and told him about his problem. “Our Criminal Branch team verified his complaint on Tuesday and a case was filed prior to Waghmare’s arrest. Waghmare was charging over 10% monthly interest on the loan amount. He also charged an additional amount for the months the payment was in default,” Rajurkar said.
“Shaikh calculated the total amount of money paid to Waghmare and it worked out at Rs15 lakh. But Waghmare claimed that Shaikh was supposed to pay another Rs8 lakh. Shaikh decided not to pay the money. After that, Waghmare began abusing Shaikh, he also threatened him with disastrous consequences,” he said.