Money Lender – R4I Gold DSI FR http://r4igolddsifr.com/ Wed, 17 Nov 2021 02:59:58 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://r4igolddsifr.com/wp-content/uploads/2021/10/icon-2.png Money Lender – R4I Gold DSI FR http://r4igolddsifr.com/ 32 32 Sadar’s cops charge money lender with extortion, threatening man’s life https://r4igolddsifr.com/sadars-cops-charge-money-lender-with-extortion-threatening-mans-life/ Wed, 17 Nov 2021 02:59:58 +0000 https://r4igolddsifr.com/sadars-cops-charge-money-lender-with-extortion-threatening-mans-life/ Nagpur: Sadar’s police have hired a loan shark and two others accused of extortion and threatening to kill a man for money. The plaintiff, Naitik Suresh Sardar (30), resident of Jeevan Eklavya Estate, Sumit Nagar, Jaitala Road, had taken 10,000 rupees from accused moneylender Shubham Ashok Shahu (30) on credit in December 2019. However, despite […]]]>

Nagpur: Sadar’s police have hired a loan shark and two others accused of extortion and threatening to kill a man for money.

The plaintiff, Naitik Suresh Sardar (30), resident of Jeevan Eklavya Estate, Sumit Nagar, Jaitala Road, had taken 10,000 rupees from accused moneylender Shubham Ashok Shahu (30) on credit in December 2019. However, despite Naitik’s return of money. Along with interest, the accused Shubham demanded an additional Rs 20,000 as interest and an additional Rs 20,000 as extortion money. The accused loan shark harassed Naitik for the money.

On October 21, while Naitik was working at the Caps and Cones ice cream parlor at Meshram Statue Square in Sadar, the accused Shubham went there and snatched a Samsung cell phone worth Rs 10,000 from Naitik. Moreover, on November 14 around 11:30 p.m., Naitik was going home. The accused Shubham and his two accomplices docked Naitik near Ravi Bhavan in Civil Lines and snatched his two-wheeler (MH-31 / BK 8513) worth Rs 30,000. The accused trio were severely beaten. Naitik and also threatened to kill him.

Sadar Woman API Gurnule, acting on Naitik’s complaint, reserved accused Shubham Shahu and two others under IPC Articles 386, 323, 34 read with Articles 39, 44, 45 of Maharashtra Money-Lending (Regulation) Act 2014. Further investigation is underway.





Source link

]]>
HML investments. The first hard money lender to accept cryptocurrency https://r4igolddsifr.com/hml-investments-the-first-hard-money-lender-to-accept-cryptocurrency/ Thu, 11 Nov 2021 01:03:14 +0000 https://r4igolddsifr.com/hml-investments-the-first-hard-money-lender-to-accept-cryptocurrency/ HML Investments Bitcoin, Ethereum and hard money the unexplored market share of digital currency LOS ANGELES (PRWEB) November 10, 2021 HML Investments, a renowned hard money lender with over 20 years of experience, celebrates its first steps into the new financial age by accepting the world’s first hard money loan to be repaid in Ethereum. […]]]>

HML Investments

Bitcoin, Ethereum and hard money the unexplored market share of digital currency

HML Investments, a renowned hard money lender with over 20 years of experience, celebrates its first steps into the new financial age by accepting the world’s first hard money loan to be repaid in Ethereum. (Ethereum being a non-deflationary form of digital currency otherwise known as cryptocurrency). This first-of-its-kind financial transaction marks a milestone for borrowers and lenders alike, opening up a whole market share to possibilities by enabling younger generations of crypto-millionaires to transfer their digital wealth into sustainable assets while simultaneously boosting the market with new developments.

As of November 8, 2021, HML Investments have started accepting both Bitcoin and Ethereum as a form of payment, but what does this mean for the future of hard money lending and how will it affect it the market as a whole? CEO Yanni Raz and Executive Vice President J. Cash think they know. “The game is changing, money is changing and the real estate market is getting more complex, it is only a matter of time before cryptocurrency transactions become the norm.” ~ Yanni

“As more companies start to accept crypto as payment, its value will continue to rise, making coins like Bitcoin and Ethereum an even more difficult asset than the real estate they are traded for.” ~ J. Cash

The decision to accept crypto as payment was a no-brainer for hard money tycoon Yanni Raz, the real challenge will come in getting the word out to potential investors and letting them know that their Bitcoin and Ethereum can now be used for generate fund transactions.

Share the article on social media or by email:


Source link

]]>
HML investments. The first hard money lender to accept cryptocurrency | New https://r4igolddsifr.com/hml-investments-the-first-hard-money-lender-to-accept-cryptocurrency-new/ Thu, 11 Nov 2021 01:00:00 +0000 https://r4igolddsifr.com/hml-investments-the-first-hard-money-lender-to-accept-cryptocurrency-new/ LOS ANGELES, November 10, 2021 / PRNewswire-PRWeb / – HML Investments, a renowned hard money lender with over 20 years of experience, celebrates its first steps into the new financial age by accepting the world’s first hard money loan at repay in Ethereum. (Ethereum being a non-deflationary form of digital currency otherwise known as cryptocurrency). […]]]>

LOS ANGELES, November 10, 2021 / PRNewswire-PRWeb / – HML Investments, a renowned hard money lender with over 20 years of experience, celebrates its first steps into the new financial age by accepting the world’s first hard money loan at repay in Ethereum. (Ethereum being a non-deflationary form of digital currency otherwise known as cryptocurrency). This first-of-its-kind financial transaction marks a milestone for borrowers and lenders alike, opening up a whole market share to possibilities by enabling younger generations of crypto-millionaires to transfer their digital wealth into sustainable assets while simultaneously boosting the market with new developments.

From November 8, 2021 HML Investments have started to accept both Bitcoin and Ethereum as a form of payment, but what does this mean for the future of hard money lending and how it will affect the market as a whole ? CEO Yanni Raz and executive vice-president J. Species believe they know. “The game is changing, money is changing and the real estate market is getting more complex, it is only a matter of time before cryptocurrency transactions become the norm.” ~ Yanni

“As more companies start to accept crypto as payment, its value will continue to rise, making coins like Bitcoin and Ethereum an even more difficult asset than the real estate they are traded for.” ~ J. Cash

Decision to accept crypto as payment was obvious to the hard money tycoon Yanni Raz, the real challenge will come in getting the word out to potential investors and letting them know that their Bitcoin & Ethereum can now be used to generate fund transactions.

Media contact

yanni raz, HML Investments, +1 818-308-4443, yanni@hmlinvestments.com

Twitter, Facebook

SOURCE HML Investments



Source link

]]>
Credit regulator withdraws action against controversial money lender https://r4igolddsifr.com/credit-regulator-withdraws-action-against-controversial-money-lender/ Mon, 08 Nov 2021 08:00:00 +0000 https://r4igolddsifr.com/credit-regulator-withdraws-action-against-controversial-money-lender/ The National Credit Regulator withdrew its request to revoke Moneyline Financial Services’ registration as a money lender. Mountain was found to recklessly extend credit to consumers, most of whom were recipients of social subsidies. The company is a subsidiary of Net1. Net1 was the owner of the company which was hired by the South African […]]]>
  • The National Credit Regulator withdrew its request to revoke Moneyline Financial Services’ registration as a money lender.
  • Mountain was found to recklessly extend credit to consumers, most of whom were recipients of social subsidies.
  • The company is a subsidiary of Net1. Net1 was the owner of the company which was hired by the South African Social Security Agency to pay social benefits between 2012 and 2018.

The claim against Moneyline Financial Services (Pty) for recklessly granting credit to consumers, who are mostly recipients of social subsidies, has been dropped. This means that Moneyline can continue to provide loans and other services.

The National Credit Regulator (NCR) has asked the National Consumer Court to revoke Moneyline’s registration as a money lender. But last month, the NCR said it made the decision to withdraw its request.

The NCR did not respond to further questions on the reasons for its decision.

Moneyline grabbed the headlines about seven years ago, when recipients began to notice unexplained deductions, like airtime and life insurance policies, on their social grants. In most cases, the deductions took place before they could access the funds themselves.

Moneyline is a subsidiary of Net1. Another Net1 company, Cash Paymaster Services (CPS), was hired by the South African Social Security Agency (SASSA) to pay social benefits between 2012 and 2018. Net1 and its subsidiaries were at the center of controversies over the payment social allowances and claims of reckless loan.

A search report published in 2020 by human rights organization Black Sash and the London School of Economics and Political Science found that the systems Net1 set up through CPS – while CPS administered the SASSA grants – created an environment in which lenders provided low risk loans to recipients of social grants. while charging them high risk interest rates.

This environment, according to the report, activated lenders use grants as collateral for debt.

Moneyline said it does not charge interest, only an administrative fee.

NCR investigations into Moneyline’s lending practices have found that Moneyline’s inclusion of child and foster care allowances in its client affordability assessments violates the National Credit Law.

As part of its request to cancel Moneyline’s registration, the RCN referred Moneyline to court in 2014 for reckless lending to recipients of children’s grants.

The Tribunal then ruled that the complaint was valid and that there were “good reasons” to investigate Moneyline. The decision of the three members of the Tribunal was not unanimous.

As a first step, Moneyline filed an appeal with the Tribunal in 2016 decision. The appeal, which the NCR opposed, was first heard on December 4, 2018 by the High Court in Pretoria. On August 30, 2019, the court ordered that the Tribunal be included as a defendant and the appeal hearing was postponed to October 27, 2021.

When GroundUp contacted Lesiba Mashapa, secretary of the NCR company, for details of the hearing, he said that Moneyline had withdrawn its appeal and that NCR also withdrew its request to remove the company from the list of suppliers of credit.

“The case has been settled and the dispute between NCR and Moneyline is therefore closed,” he said.

Moneyline remains on the lending provider’s list, Mashapa said.

According to the Registrar of the Tribunal, Lucky Rabotapi, claimants like the NCR in this case may withdraw their claim without providing a reason to the Tribunal. When parties reach a settlement outside of court proceedings, the court only checks that the settlement is in accordance with the law, he said.

“There was no mention of a settlement at the Tribunal,” he said.

Meanwhile, Hoodah Abrahams-Fayker, head of national advocacy for Black Sash, said the organization was disappointed that Moneyline had not been held accountable “for its predatory financial practices in the past, targeting social grant recipients. “.

She said they would continue to watch Moneyline.

Tiaan Jonker, Director of Smit Sewgoolam Incorporated, who are the attorneys for Moneyline, said: “Moneyline is committed to providing lending solutions in full compliance with the National Credit Act in its preferred market of consumers and sub-merchants. banked and underserved in South Africa.

GroundUp first contacted NCR on October 27. The NCR promised to respond but had not done so at the time of publication.


Source link

]]>
Woman’s body found in bag belongs to pawnshop; 2 suspects missing https://r4igolddsifr.com/womans-body-found-in-bag-belongs-to-pawnshop-2-suspects-missing/ https://r4igolddsifr.com/womans-body-found-in-bag-belongs-to-pawnshop-2-suspects-missing/#respond Sat, 06 Nov 2021 03:03:30 +0000 https://r4igolddsifr.com/womans-body-found-in-bag-belongs-to-pawnshop-2-suspects-missing/ More information has been revealed regarding the body of a woman in a suitcase in the Sapugaskanda region. Police said the woman left with another woman and a man in a three-wheeler to redeem pledged gold jewelry, but then disappeared after leaving with the other woman in a three-wheeler. Her husband had filed a complaint […]]]>

More information has been revealed regarding the body of a woman in a suitcase in the Sapugaskanda region.

Police said the woman left with another woman and a man in a three-wheeler to redeem pledged gold jewelry, but then disappeared after leaving with the other woman in a three-wheeler.

Her husband had filed a complaint with the police on November 28 regarding the woman’s disappearance.

Police investigations confirmed that the missing woman was traveling in the three-wheeler with another woman and her brother, a resident of Summit.

Police said the other woman and her brother are currently missing and an operation is currently underway to locate them.

It is said that the deceased woman made her living by lending money at interest.

Police had identified the body of the woman who was killed, stuffed into a suitcase and dumped in a landfill on Mabima Road, Sapugaskanda yesterday, as that of 45-year-old Maligawatte resident Mohammad Shafi Fathima Munthas.

Wife AM Amalolla’s husband and her two children identified the body yesterday afternoon in the morgue of Ragama hospital.

Her husband had lodged a complaint with Bluemandhal Police, saying his wife, who resided at the Maligawatta National Housing Program, had been missing since the 28th.

Police investigations revealed that the woman had traveled in a three-wheeler with another woman. However, the motive for the murder and who had committed the crime and stuffed the body of the woman in the suitcase and dumped it in the landfill has not been revealed until now.

The body of the woman who had been mysteriously killed and her body stuffed into a suitcase and thrown into a dumpster had been found by the police on Thursday (04) afternoon.

Police requested help from nearby police stations to identify the deceased woman and Bluemandhal Police have notified a complaint.

In addition, three other parties also lodged complaints with the Sapugaskanda police yesterday morning looking for missing women.


Source link

]]>
https://r4igolddsifr.com/womans-body-found-in-bag-belongs-to-pawnshop-2-suspects-missing/feed/ 0
Pretium buys Fix and Flip Hard Money Lender from Wafra in Kuwait https://r4igolddsifr.com/pretium-buys-fix-and-flip-hard-money-lender-from-wafra-in-kuwait/ https://r4igolddsifr.com/pretium-buys-fix-and-flip-hard-money-lender-from-wafra-in-kuwait/#respond Wed, 03 Nov 2021 16:26:39 +0000 https://r4igolddsifr.com/pretium-buys-fix-and-flip-hard-money-lender-from-wafra-in-kuwait/ Posted on 03/11/2021 Pretium acquired Anchor Loans LP, a Thousand Oaks, California-based financing provider for residential real estate investors and entrepreneurs, from Wafra Capital Partners Inc. and other owners. Anchor Loans was formed in 1998. Following the closing of the transaction, Anchor Loans will continue to be led by CEO Andrew Pollock and the current […]]]>

Posted on 03/11/2021


Pretium acquired Anchor Loans LP, a Thousand Oaks, California-based financing provider for residential real estate investors and entrepreneurs, from Wafra Capital Partners Inc. and other owners. Anchor Loans was formed in 1998. Following the closing of the transaction, Anchor Loans will continue to be led by CEO Andrew Pollock and the current management team and will retain its headquarters in Thousand Oaks, California.

Anchor Loans is known as a fix-and-flip lender.

American Equity Investment Life Insurance Company funded the acquisition as part of its expansion of its strategic partnership with Pretium. In addition, American Equity acquired approximately $ 1 billion in loans issued by Anchor Loans concurrent with the closing.

Advisers
Nomura Securities International, Inc. acted as financial advisor and Sidley Austin LLP as legal advisor to Pretium. Piper Sandler & Co. acted as financial advisor and O’Melveny & Myers acted as legal advisor to Anchor Loans.

On September 10, 2019, Wafra Capital Partners acquired a majority stake in Anchor Loans. Prior to the 2019 acquisition, Anchor Loans tapped Wafra Capital Partners as a partner in 2015, in which Wafra provided $ 500 million in financing for loans.

The Kuwait Public Social Security Institution (PIFSS) owns Wafra.

Keywords: American Equity Investment Life Holding Company, Pretium Partners.


Source link

]]>
https://r4igolddsifr.com/pretium-buys-fix-and-flip-hard-money-lender-from-wafra-in-kuwait/feed/ 0
Harassed by a money lender, a 61-year-old man commits suicide in Jaipur | Jaipur News https://r4igolddsifr.com/harassed-by-a-money-lender-a-61-year-old-man-commits-suicide-in-jaipur-jaipur-news/ https://r4igolddsifr.com/harassed-by-a-money-lender-a-61-year-old-man-commits-suicide-in-jaipur-jaipur-news/#respond Sat, 16 Oct 2021 22:40:00 +0000 https://r4igolddsifr.com/harassed-by-a-money-lender-a-61-year-old-man-commits-suicide-in-jaipur-jaipur-news/ JAIPUR: A 61-year-old man committed suicide after jumping in front of a train in Gokulpura after he was allegedly harassed by a pawnshop, Kardhani police said on Saturday. The deceased has been identified as Mahaveer Sharma, a resident of Kamla Nagar near Sirsi Road. According to police, Sharma’s son Karan (27) filed an FIR on […]]]>
JAIPUR: A 61-year-old man committed suicide after jumping in front of a train in Gokulpura after he was allegedly harassed by a pawnshop, Kardhani police said on Saturday.
The deceased has been identified as Mahaveer Sharma, a resident of Kamla Nagar near Sirsi Road. According to police, Sharma’s son Karan (27) filed an FIR on Friday afternoon, alleging that a certain Pratap Singh Choudhary was constantly threatening his father.
SHO Banwari Lal Meena said Sharma died on Wednesday after jumping in front of a train. A suicide note was recovered from him in which Sharma blamed Choudhary.
Police said Sharma returned some money to Choudhary, but the latter continued to insist on more.
According to the FIR, Choudhary came to Sharma’s home at 3 p.m. on Wednesday when Sharma was in the office, while her son Karan was present in the house. Choudhary reportedly threatened the family that if Sharma does not repay the money, he will make them homeless.
Family members told cops that Choudhary had regularly threatened Sharma, and he ended his life that same day at 10 p.m. when he couldn’t take it anymore.
Police in Kardhani said an FIR was filed under Articles 384 (extortion) and 306 (incitement to suicide) of the IPC.
Police said based on the FIR and the accused’s recovered suicide note, they initiated the investigation.
“Family members shared the accused’s phone number. They said Mahaveer had been traumatized by the constant intimidation from Pratap Singh Choudhary, ”an official said, adding that on Wednesday when Karan told Mahaveer that Choudhary had come to their house and asked for money.


Source link

]]>
https://r4igolddsifr.com/harassed-by-a-money-lender-a-61-year-old-man-commits-suicide-in-jaipur-jaipur-news/feed/ 0
Ahmedabad: Money lender’s henchmen kidnap man, force him to work in call centers; probe on https://r4igolddsifr.com/ahmedabad-money-lenders-henchmen-kidnap-man-force-him-to-work-in-call-centers-probe-on/ https://r4igolddsifr.com/ahmedabad-money-lenders-henchmen-kidnap-man-force-him-to-work-in-call-centers-probe-on/#respond Fri, 15 Oct 2021 14:09:00 +0000 https://r4igolddsifr.com/ahmedabad-money-lenders-henchmen-kidnap-man-force-him-to-work-in-call-centers-probe-on/ Representation image | Photo credit: iStock images Ahmedabad: A man borrowed Rs 25 lakh from a money lender in Khodiyarnagar, Gujarat. In a shocking turn of events, he repaid Rs 85 lakh and was forced to work in call centers. The man has been identified as Sagar Mehta. The 31-year-old victim claimed that the lender’s […]]]>

Representation image | Photo credit: iStock images

Ahmedabad: A man borrowed Rs 25 lakh from a money lender in Khodiyarnagar, Gujarat. In a shocking turn of events, he repaid Rs 85 lakh and was forced to work in call centers. The man has been identified as Sagar Mehta. The 31-year-old victim claimed that the lender’s henchmen kidnapped him and took him to various states.

According to the report, a complaint was filed by the victim. On the basis of information, the investigating team arrested an individual by the name of Shubham Rajput, implicated in the kidnapping.

Sagar took out a loan in the amount of Rs 25 lakh from Rahul Chauhan at an interest rate of 3%.

In his complaint to the police, Sagar said: “I reimbursed Rs 85 lakh. Yet the accused kidnapped me in March,” he said. India time. He further noted that he was tied to a chair and forced to work as a call center executive.

After Sagar’s complaint, the police team arrested Shubham, while three others (Jitu Chauhan, Rahul Chauhan and Atul Rajput) were also involved in the offense.

While commenting on the incident, Nikol Police Inspector VD Zala said: “Sagar took out a loan worth Rs 25 lakh from Rahul Chauhan, a loan shark from Khodiyarnagar.”

Another similar incident

In another incident, Khokhra police arrested four money lenders for their alleged involvement in an extortion case. According to the report, two are still at large. The suspects in the cops net are Gaurav Chauhan, Sharad Karade, Dalversinh Chauhan and Saurav Chauhan.

In his police complaint, the victim said he borrowed Rs 20,000 from these money lenders. They levied a penalty of Rs 500 for each day if there was a late payment. The complainant reimbursed Rs 40,000 but they continued to harass him.

The report further suggests that the plaintiff paid Rs 2 lakh in total to the four defendants in this case.


Source link

]]>
https://r4igolddsifr.com/ahmedabad-money-lenders-henchmen-kidnap-man-force-him-to-work-in-call-centers-probe-on/feed/ 0
Your trusted money lender in Singapore https://r4igolddsifr.com/your-trusted-money-lender-in-singapore/ https://r4igolddsifr.com/your-trusted-money-lender-in-singapore/#respond Wed, 08 Sep 2021 11:55:27 +0000 https://r4igolddsifr.com/your-trusted-money-lender-in-singapore/ We all have our share of tough times. And it’s even more difficult if we can’t find a solution to everything we have – especially the financial constraints. Read also | The future of electric vehicles is making inroads in Singapore Even if you have your emergency savings, financial problems will arise without you knowing […]]]>

We all have our share of tough times. And it’s even more difficult if we can’t find a solution to everything we have – especially the financial constraints.

Read also | The future of electric vehicles is making inroads in Singapore

Even if you have your emergency savings, financial problems will arise without you knowing it. And when that happens, you need to take quick action as soon as possible to avoid blowing it up further.

Fortunately, approved lenders like Cash Mart can forget about all your worries. When you need instant cash for a break or to pay your bills, Cash Mart is definitely your official money lender in Singapore. Know why.

Read also | VO Chidambaranar Port in Tamil Nadu Sets New Record Handling Ship with Largest Package Size

Best licensed money lender in Singapore

Whenever you need it, Cash Mart offers the fastest cash loan; at your fingertips – wherever you are. Whether you need to quickly find extra cash to run your business, pay for the medical care of a loved one, or buy a brand new laptop for work, money always comes to the rescue.

Cash Mart’s goal is to ease the burden on its customers in times of cash flow crisis, with great rates, great service, awesome perks and perks. They have served over 50,000 happy customers to date and have earned a 9.5 rating in Google reviews. Apart from that, Cash Mart is also at the top of the A + Money Lender Classification created by trade publications in Singapore.

Cash Mart is also one of the few licensed money lenders in Singapore that operates on a strictly independent basis and where customer information is completely confidential and is not released. As a licensed personal loan money lender in Singapore, they do not advertise or charge upfront fees for pre-approved loans via SMS, phone, or email.

Quick loan steps-

Cash Mart is always committed to providing fast, convenient and affordable loan solutions. There are three loans you can apply with; Payday loan (get your money up front), business loan (cash flow for your business), and personal loan (cash loan for everything, every time). The stages of the loan are:

STEP 1 Refuel online

Fill out their simple application form on their website. After 1 business day, Cash Mart will contact you.

STEP 2 Verify the loan

Cash Mart’s loan officers will check your eligibility and documents to make sure you can truly repay the credits.

STEP 3 Get credited

Sign the contract and wait for your cash disbursement.

SINCE 1969

Cash Mart prides itself on a reputation for integrity, honesty and excellence. As a Singapore based legal money lender sharing over 50 years of rich experience, they are well versed in market trends, fluctuations and legal processes on money lending options which has enabled them to providing an innovative and flexible loan option which has always ensured their clients a very affordable yet manageable low interest cash loan solution that is quickly approved and disbursed. Really, they’re still #alenderthatcares.

If you are looking for a well established financial institution in Singapore that is committed to giving people convenient access to credit in a fast and reliable manner; Singapore’s leading and most trusted Minlaw Authorized Money Lender – CASH MART – is your best bet.


Source link

]]>
https://r4igolddsifr.com/your-trusted-money-lender-in-singapore/feed/ 0
Lender kidnaps teenage son from shopkeeper after he fails to pay off loan and interest https://r4igolddsifr.com/lender-kidnaps-teenage-son-from-shopkeeper-after-he-fails-to-pay-off-loan-and-interest/ https://r4igolddsifr.com/lender-kidnaps-teenage-son-from-shopkeeper-after-he-fails-to-pay-off-loan-and-interest/#respond Mon, 30 Aug 2021 07:00:00 +0000 https://r4igolddsifr.com/lender-kidnaps-teenage-son-from-shopkeeper-after-he-fails-to-pay-off-loan-and-interest/ The accused was arrested by the police (Representative image). | Photo credit: iStock images Highlights A teenager was allegedly kidnapped by a money lender in Bihar The accused allegedly abducted the teenager because his father was unable to repay a loan Patna: A money lender in Bihar allegedly kidnapped a 16-year-old boy after his father […]]]>

The accused was arrested by the police (Representative image). | Photo credit: iStock images

Highlights

  • A teenager was allegedly kidnapped by a money lender in Bihar
  • The accused allegedly abducted the teenager because his father was unable to repay a loan

Patna: A money lender in Bihar allegedly kidnapped a 16-year-old boy after his father failed to repay a loan. The accused allegedly wanted to extort Rs 3 lakh from the victim who did not repay a loan of Rs 60,000 with interest. The teenager was then rescued by state police on Sunday.

The 16-year-old boy was abducted from Tenduni Chowk, located on the outskirts of Bikramganj town on August 25. He was rescued from a building under construction in Buxar.

The victim took out a loan of Rs 60,000

According to the complaint filed by the teenager’s father, he had borrowed 60,000 rupees from Raghvendra Pratap Singh aka Bambam Singh. Singh had granted the loan with a monthly interest of 10 percent, which had risen to Rs 80,000 and was unpaid.

Distraught by the victim’s inability to repay the loan, the accused allegedly abducted his child. On August 21, the accused allegedly held the businessman captive at his home and asked his family to reimburse the money, Hindustan times reported. The victim’s wife arranged Rs 60,000 and sent her son to give the money to Singh.

When the victim’s son arrived in Bikramganj, where the accused was waiting in an SUV, he released the businessman and took his son with him. The accused threatened to kill the teenager if he was not paid Rs 3 lakh.

When the teenager’s father failed to settle the amount, he went to the police and filed a kidnapping complaint with the local police station on August 28. After being informed of the case, a police team under the supervision of Khurshid Alam, Deputy Superintendent of Police (DSP) cum station house officer (SHO) of Bikramganj, rushed into Buxar district and caught the accused. Following this, the police rescued the teenager from a building under construction on the outskirts of Nawanagar Market.


Source link

]]>
https://r4igolddsifr.com/lender-kidnaps-teenage-son-from-shopkeeper-after-he-fails-to-pay-off-loan-and-interest/feed/ 0