Kaimur, Bihar: In a shocking bust, Kaimur police have apprehended a notorious loan shark, known locally as “Byaj Babu,” whose predatory lending practices had trapped dozens of borrowers in a cycle of debt and property loss.
The accused, Laxman Sah, had built an opulent empire by offering loans at exorbitant interest rates—up to four times the principal amount. Victims, desperate for funds for marriages or other emergencies, often ended up signing blank cheques, which Sah used to seize their property.
What Police Recovered:
- 245 blank cheques from borrowers
- 39 property documents and registries mortgaged to Sah
- ₹1,70,000 cash
- 1.754 kg silver
- 65 stamp papers intended to illegally claim borrowers’ property
- A detailed diary tracking borrowers, loans, and other transactions
How the Fraud Was Uncovered:
The case came to light when a man approached the police, claiming he had borrowed ₹1.5 lakh for his sister’s wedding. Despite repaying the principal, Sah demanded an additional ₹5 lakh in interest. Based on this complaint, police raided Sah’s residence, uncovering the shocking extent of his operations.
Kaimur SP Harimohan Shukla stated that Sah exploited borrowers by taking advantage of their personal emergencies. The diary recovered will help police trace additional victims and take further action.
Police Appeal:
The SP has urged residents, “If you have been victimized by this loan shark, do not hesitate to report it to me or your nearest police station. Immediate action will be taken.”
This operation exposes the dangerous reach of predatory lending in the region and serves as a warning to those engaging in such illegal financial practices.
Discover more from SD NEWS agency
Subscribe to get the latest posts sent to your email.