Palanpur: The Modasa police have arrested two alleged moneylenders accused of trapping a former BJP corporator in a usurious lending racket and extorting Rs 91 lakh after initially advancing him a loan of Rs 16 lakh.According to the complaint filed by Priyank Patel, owner of Atlanta Theatre, he borrowed Rs 16 lakh from Vijay Desai of Sabalpur to urgently repay a bank loan. Patel alleged that Desai charged 10% monthly interest and extracted nearly Rs 8 lakh in interest and penalties within three months before demanding Rs 23.5 lakh.When Patel expressed inability to pay, Desai allegedly forced him to borrow Rs 23.5 lakh from another moneylender, Nikul Rabari of Dhansura. The duo allegedly imposed exorbitant daily interest, threats and penalties, ultimately extorting Rs 91 lakh, forcing Patel to sell family jewellery and transfer property documents, the FIR states.Following Patel’s complaint, Modasa Town police arrested Desai and later tracked down Rabari, who had gone into hiding.
