Bengaluru, May 29 : CCB Police have nabbed six Pawn brokers who had indulged in collecting huge interest and threatening the loan takers of dire consequences even after they repay the loan amount by not returning their Cheques, Sale Deed, On Demand Notes collected as security at the time of lending them the loan amount.
Police said that following the complaints raids were conducted at seven places, including on their houses and Offices, seized Cash Rs 9 lakh, 566 Cheques, 197 On Demand Notes, 3 Sale Deeds, 28 Lease Agreements and Laptop used for the crime.
The arrested were identified as Ashish Jain, Lalit Kanuga, Sanjay Sachdev, Chandru Arjun Das, Om Prakash Sachdev and Mata Prasad Tiwari.
Police said that the arrested were charging 20 per cent to 25 per cent and were collecting Cheques, On Demand Notes, Sale Deeds as security but not returning them after receiving the money towards clearing the loan amount taken.
They also used to threaten the loan takers of dire consequences if they failed to paying interest.
Cases were registered at City Market, Puttenahalli and Konanakunte Police Stations.
