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Woman charges high interest rates, arrested

News18

Updated: September 24, 2011, 10:32 AM IST
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Woman charges high interest rates, arrested
BANGALORE: The sleuths of the Fraud and Misappropriation squad of the Central Crime Branch (CCB) arrested a woman for allegedly ha..

BANGALORE: The sleuths of the Fraud and Misappropriation squad of the Central Crime Branch (CCB) arrested a woman for allegedly harassing public by charging exorbitant interest rates.
The accused Shanthakumari (39), a resident of Shivashankar Apartments in Kempegowda Nagar, made illegal financial transactions to the tune of Rs. 50 lakh.
According to police, the accused used to give loan to people at an interest rate of 10-15 per cent against the interest rate fixed by the government.
She was running chit business without any licence.
The police seized cheques, on-demand promissory notes, LIC bonds and other documents related to the illegal transactions.

First Published: September 24, 2011, 10:32 AM IST
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