Gujarat: A man committed suicide in Bhavnagar after he was cheated of Rs 40 lakh in a loan scam

A man in Bhavnagar, Gujarat committed suicide after he was allegedly defrauded of Rs 40 lakh by two people who promised to secure a large bank loan for him. The man, identified as Praveen, left a suicide note and a video naming four people responsible for his death.

Praveen, who was a home builder, was reportedly struggling with mounting debts after he borrowed money to pay agents who assured him of a loan worth billions of dollars from Union Bank.

His suicide note and video show that the agents Raju Solanki and Mehul Makwana had gained his trust over the past year. They convinced him to repay Rs 40 lakh in installments, claiming it was required to facilitate loan approval.

Praveen’s financial problems deepened as he borrowed money from friends and relatives at high interest rates to meet the agents’ demands. Despite repeated assurances that the loan would be repaid, it never did, and the loan sharks from whom he had borrowed began to put pressure on him to repay it.

In a video recorded before his death, Praveen expressed his pain, saying, “I don’t want to die but I am helpless. I was cheated by people who promised me a loan and took Rs 40 lakh. Now they say they can return only Rs 20 lakh and say the rest has been spent.”

He then appealed for justice for his family, calling on the authorities to punish the accused and ensure that his wife and son receive the money they are owed. He also named the woman who allegedly cheated him of Rs 5 lakh.

After receiving the complaint, Praveen’s wife went to the Ghogha Road police station. The police have registered a case against two agents, Raju Solanki and Mehul Makwana, and two moneylenders, Gautam Meer and Deepak Garagewala.

An investigating officer at Ghogha Road police station said, “We have recovered a suicide note and a video clip in which Praveen mentions giving Rs 40 lakh to Raju Solanki and Mehul Makwana in exchange for a loan, which was never approved. He also names two loan sharks who put pressure on him. for a refund. An investigation is ongoing to verify all claims and ensure justice is served.”

(with inputs from Aditya Bidwai)