Ahmedabad: A 24-year-old garment trader from Kubernagar accused four private moneylenders of charging exorbitant interest and threatening him despite receiving more than double the amount he originally borrowed.According to a complaint filed with the Airport police on Saturday, the trader took loans totalling around Rs 14.2 lakh from the accused but ended up paying more than Rs 34 lakh through cash and online transfers, while the lenders allegedly continued to demand additional money. The complainant, who runs a garment shop in Kubernagar, approached police on March 7, alleging harassment by four men who lent him money when he suffered financial losses in his business last year.The complainant borrowed money at different times between July and Sep 2025. Initially, the lenders allegedly agreed to charge monthly interest of 1% to 5%. However, the complainant alleged that they later started imposing steep and arbitrary rates, sometimes claiming daily interest.The complainant told police that despite repaying large sums through bank transfers and cash, the accused kept demanding more money and threatened him and his family. In one case, he said, he borrowed Rs 1 lakh but repaid more than Rs 5.5 lakh. However, the accused allegedly continued to demand Rs 7 lakh.Similarly, another lender allegedly lent him Rs 4.5 lakh but recovered over Rs 10 lakh and even seized the trader’s scooter as security.The complainant also alleged that one of the lenders forced him to record a video admitting he owed Rs 21 lakh while threatening him with dire consequences.Airport police registered a case of illegal money lending, extortion and criminal intimidation and started further investigation.
