Hyderabad man arrested for scamming businessman out of ₹1.55 crore
A 44-year-old man, Nagaraju Devu, was arrested in Hyderabad for allegedly scamming a businessman out of ₹1.55 crore by pretending to offer a business loan.
Devu posed as the owner of Finpair Solutions Private Limited and convinced the victim—who needed funds for his company—to pay multiple fees between June and November 2023, but no loan ever came through.
Victim's trust was built over time
Devu reportedly set up a fake website (finpair.in) and ran social media ads to make his company look legit, tricking the victim into trusting him.
After months of empty promises, the businessman realized he'd been cheated and went to the police in February.
Authorities are now investigating if more people were targeted and have urged everyone to double-check any online offers before sending money, especially when it comes to loans or financial deals.