In Bengaluru, man promised Rs 10 crore loan scammed of Rs 30 lakh

BENGALURU: A businessman who runs a school was allegedly scammed of Rs 30 lakh by miscreants who promised him a huge sum as loan to develop the school.
According to police, Amamer Abdul Razak, 32, a resident of Benson Town and general secretary of an educational institution which runs a school near Moodbidri in Dakshina Kannada district, is the victim.

Razak told police he planned to construct a school building and in August 2021, the institution decided to raise Rs 10 crore as loan for the same. A person identifying himself as Karthik Muddodi came in contact with Razak during a school function, and the school management discussed the loan requirement with him.
Muddodi assured the management of his assistance in getting the loan. Within a few days, he introduced to Razak his friend Mallikarjun, who he claimed knew the MD of a private finance firm located in Thane, Maharashtra.
Mallikarjun and Muddodi assured Razak they would get him Rs 10 crore as loan within 45 days if he paid Rs 30 lakh as advance payment to the private firm MD. Razak agreed and transferred Rs 30 lakh to a bank account opened in the name of Neeraj Digambara Chowdary. Mallikarjun and Muddodi arranged an agreement between Razak and the finance firm on August 24, 2021.
"We did not get any loan from the finance company and I asked Mallikarjun and Muddodi about it. Saying that they had forwarded all the documents to the finance company, they sought some time. But they neither got me the loan nor returned my money," Razak stated in his complaint.
Razak also claimed that Mallikarjun and Muddodi promised to arrange a meeting between him and the MD to take up the issue of loan delay, but no such meeting took place. Bharathinagar police have registered a case of cheating, criminal breach of trust and criminal conspiracy against the gang.