Illegal money lender held

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posted on 13 years ago — updated on 1 second ago

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BANGALORE: A 38 year old man was arrested by the Chandra Layout police on charges of running an illegal finance business that lent..

BANGALORE: A 38 year old man was arrested by the Chandra Layout police on charges of running an illegal finance business that lent money to people at a high rate of interest. Kundan Singh, a resident of Nayandahalli, was running a company called J K Pawn Brokers at Gangondanahalli. The police arrested Singh after a complaint was lodged against him by J D Manjunath. The accused had given Manjunath `1.5 lakh on loan after he pledged his land documents.
Manjunath had returned `1.5 lakh to Singh, including the interest rates and asked Singh to return his land documents. But Singh allegedly asked for `1.2 lakh more to return the original documents, police said.Police recovered Manjunath's documents along with two bond papers and a blank cheque.

In two separate incidents, miscreants entered houses and made away with valuables worth around `8 lakh.

In other case in Rajarajeshwarinagar police limits, miscreants broke open the door of a house at BEML Layout Fifth Stage and escaped with 80 grams of gold ornaments and `15,000 cash.