Man arrested for seizing SUV over predatory 15% monthly interest loan
Police in Nagaon have arrested a man accused of seizing a vehicle over an illegal high-interest loan calculator. Imran Hussain, also known as 'Iran', allegedly demanded exorbitant repayments and threatened the borrower with false criminal charges. The arrest follows repeated complaints of harassment and financial exploitation.
The victim, Kazi Mashud, had borrowed Rs.5.52 lakh from Hussain at a 15% monthly interest calculator rate. Despite repaying Rs.70,000 in interest alone, he faced continuous demands for more money. When Mashud struggled to meet the payments, Hussain confiscated his SUV and threatened him with fcc complaints and imprisonment.
Hussain remains in custody while investigations continue. The police have recovered the confiscated vehicle and are reviewing his past criminal activities. Residents are being encouraged to come forward if they have faced similar threats or extortion.
