Loan sharks fuel youth suicide in Amberpet, Hyderabad – The New Indian Express

Through Express press service

HYDERABAD: In another incident involving online micro-loan applications, harassment by online loan sharks claimed the life of a youth at Amberpet. M Naresh (28), who worked as a security guard for a private agency, hanged himself at his home, police said.

Naresh who was addicted to online games slipped into financial crisis and to overcome the crisis he availed loans from instant loan apps. As the reimbursement was delayed, he was reportedly harassed, forcing him to commit suicide.

Based on a complaint from his family members, a case was registered at Amberpet Police Station. Police said they were checking his mobile phone as well as his bank accounts to verify details of the loan as well as the reasons for the suicide.

The harassment of these online loan sharks has so far claimed more than 10 lives in different parts of Telangana since 2020. They have been accused of using intimidation tactics to recover the loans.

According to police, Naresh, a resident of DD Colony of Amberpet, has been gambling online for a long time. While looking for ways to get out of the crisis, he came across an advertisement offering instant loans.

He immediately approached the organizers and secured a loan. As he was delaying the refund, the organizers started harassing him. Unable to bear the same, he committed suicide on Friday.

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