Loan app scam: Harassed by loan app companies, man ends life in Hyderabad
A man died by suicide at Petbasheerabad in Hyderabad on 2 January after falling prey to fraudulent instant loan apps. The police said G. Chandra Mohan had taken nearly Rs. 1 lakh from various instant micro loan apps during the past few months.
By Newsmeter Network Published on 2 Jan 2021 1:39 PM GMT
Hyderabad: A man died by suicide at Petbasheerabad in Hyderabad on 2 January after falling prey to fraudulent instant loan apps. The police said G. Chandra Mohan had taken nearly Rs. 1 lakh from various instant micro loan apps during the past few months.
Mohan's family members claimed that he had already cleared the principal amounts but was being harassed to pay more in the form of late payment fees, compounding interest, and other charges.
The Petbasheerabad police have registered a case and started an investigation.
According to the police, Mohan is from Kamareddy district and he moved to the city more than a decade ago. He was living at Gundlapochampally with his wife Saritha and three children. He worked as a supervisor in a vegetable storage unit in the area.
On Saturday, Saritha returned home after meeting the neighbors and found her husband had ended his life. He was rushed to the hospital but was declared brought dead.
The police found that Mohan had availed loans from several micro loan apps like Cash Map, Red Crop, and Three Bit.
Five persons have died by suicide in Siddipet and Hyderabad following harassment by loan app companies. The police have registered several cases and arrested some persons in connection with the racket.
