A 21-year-old youth was arrested on Monday evening for allegedly cheating a trader by promising him a loan from a private bank.
Dinesh Mahato, 21, a resident of Nilmoni Haldar Lane near Lenin Sarani, was arrested after the trader, Shyam Sundar Sardar, got in touch with a bank official and learnt that he had been duped.
Mahato had allegedly taken Rs 16,000 from Sardar, saying the money was the “processing fee” for sanctioning a loan of Rs 17.5 lakh.
“Sardar became suspicious when Mahato demanded another Rs 1.9 lakh, saying the branch manager who would approve the loan would have to be bribed,” said an officer of New Market police station.
“The trader met the manager and learnt that he had been duped. He then lodged a complaint,” the officer said.