BANGALORE: Sleuths of the Fraud and Misappropriation squad of the Central Crime Branch arrested a money-lender for allegedly harassing public by charging exorbitant interest rates. The accused J Bhaskar, 52, is a resident of West of Chord Road. Police have estimated that he has made illegal financial transactions to the tune of Rs 3 crore. According to police, the accused owned Krupa Enterprises, a finance agency on Dr Rajkumar Road in Rajajinagar and used to lend money at an interest rate of 10 per cent.
When they failed to pay the loan with interest, he allegedly harassed them by increasing the rate of interest. Police seized more than 150 cheques, blank on-demand promissory notes, `3 lakh cash and other documents. A case is registered at Rajajinagar police station and police are further investigating.