Silchar: Loan Shark Arrested for Harassing Public through Illegal Money Lending

Despite stern warnings from the Chief Minister Himanta Biswa Sarma against illegal lending practices, some moneylenders in Silchar continued to operate with impunity. In a recent crackdown, Silchar police arrested a notorious loan shark accused of running an illegal lending business and extorting lakhs of rupees from residents. Authorities also seized a laptop and a mobile phone linked to the operation.

According to police sources, the accused, identified as Suman Nath from Malugram, Silchar, had been conducting unlawful money lending activities for several years. Nath allegedly charged exorbitant interest rates and intimidated borrowers to extract large sums of money.

One female victim told police that in 2019, during a period of financial distress, her family borrowed ₹1 lakh from Nath at a 5% interest rate per month. Following the loan, Nath allegedly took possession of the family’s ATM card, PIN, signed blank cheques, and other signed documents. Over the next five years, the victim reportedly repaid nearly ₹5 lakh, yet Nath continued to demand additional illegal payments, threatening the family with severe consequences.

The victim further claimed that Nath warned her that if she resisted, her daughter could be abducted. He also misused blank cheques to falsely accuse her of cheque bounce, later extorting another ₹1.8 lakh under duress.

Police said that a forensic examination of Nath’s laptop and mobile phone revealed evidence of extensive illegal financial transactions. Based on these findings, Silchar police arrested Suman Nath on Thursday and confiscated his laptop and mobile phone for further investigation.

This arrest underscores ongoing efforts by law enforcement to crack down on illegal moneylending operations that prey on vulnerable communities in Assam.

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