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The police said that the accused assured the complainant that they could facilitate a quick loan of Rs 5 crore for him, in exchange for a ‘processing fee’ of Rs five lakh.
The Kasturba Marg police have arrested a suspended police constable, along with two other accused, for allegedly cheating a Kandivali resident to the tune of Rs five lakh. The accused called the victim to a hotel with the money in cash, promising to sanction a loan of Rs five crore for him, after which the constable conducted a 'police raid' and decamped with the money.