Lucknow Police arrest two for Rs 10 lakh Instagram startup loan scam

Lucknow Police have arrested two men for defrauding a 21-year-old entrepreneur of Rs 10 lakh. The suspects, identified as Sadiq Hasnain and Shoaib Zafar from Patna, Bihar, allegedly used Instagram to target individuals interested in starting small businesses.

The accused reportedly promised to facilitate loans through the Udyam Setu platform to establish a startup. After obtaining the initial Rs 10 lakh, the men allegedly attempted to extort more money by threatening the victim and his family with physical harm and death.

Following a complaint filed at the Vibhutikhand police station, a police team arrested the suspects near Kisan Bazaar. An FIR has been registered under the Bharatiya Nyaya Sanhita (BNS) as investigations continue.