India, Feb. 11 -- Old Goa Police have registered a First Information Report (FIR) against an unidentified person for allegedly cheating a resident of Merces of 1,11,950 in a loan-related fraud.

According to police sources, the accused posed as a private loan provider and contacted the victim with an offer of easy loan facilities. The fraudster allegedly persuaded the complainant to transfer money towards so-called processing charges and other formalities.

Believing the claims to be genuine, the victim transferred the amount. However, no loan was disbursed thereafter, and the accused became unreachable.

Following the complaint, Old Goa Police have launched an investigation to trace the suspect and recover the cheated amount. Authorities...