Hyderabad: The Vizag police on Tuesday arrested a man from Hyderabad for allegedly threatening a woman over the repayment of a loan.
The accused, R Jayasimha Reddy, had a connection with the Chinese and Hong Kong-based gangs. The police said that Reddy was involved in transactions of Rs 100 crore through fake firms. Rs 1.15 crore belonging to Reddy were also frozen.
Reddy allegedly threatened a woman who applied for a loan of Rs 5,000 to repay the loan within three days. Even before the end of the deadline, the man threatened her to pay Rs 12,000.
Although the victim paid the amount, the operators threatened her with circulating morphed pictures of her friends and family.
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The victim approached the cyber crime police in Andhra Pradesh, who traced Reddy based on the victim’s transactions.
Upon being interrogated, Reddy confessed that he got in touch with gangs from Hong-Kong and China. The accused share his KYC details with the gang, and borrowed loans in the name of fake firms, reported the Time of India.
The accused amassed Rs 1.15 crore and deposited the money in 16 bank accounts. The Vizag police have urged those who lost the money to contact its cybercrime wing.