Hyderabad, July 25 -- A Hyderabad-based businessman was duped of Rs 1.55 crore after he applied for a loan through an online source.

According to the police, they received a complaint on February 19, 2025, from a 39-year-old businessman stating that in June 2023, while searching for financial assistance for his company online, he was contacted by the accused, Nagaraju Devu, claiming to be the owner of Finpair Solutions Private Limited. The accused then offered to provide the victim with a business loan.

Following this, the victim was asked to transfer money as part of various fees. The victim ended up transferring Rs 1.55 crore over multiple transactions till November 2023.

After transferring the money, the victim was made to believe t...