A 41-year-old man from Bengaluru has been booked for alleged financial fraud after reportedly taking multiple loans in his wife’s name without her knowledge, leaving her with a debt burden of ₹93 lakh.
The case has been registered at Sadashivanagar Police Station. The accused, identified as Shabarish Kumar C, is a resident of Jakkur.
Allegations of financial exploitation
According to the complaint filed by his 37-year-old wife, a private company employee residing in RMV 2nd Stage, the accused allegedly used her identity to secure loans from banks and private lenders over several years.
Police said Kumar reportedly gained access to his wife’s mobile phone and used it to download loan applications and avail funds without her consent.
Debt linked to trading addiction
Investigators believe the accused may have been driven by an addiction to stock trading, leading to repeated borrowing. The complainant also alleged that he approached her friends, relatives, and colleagues for money, expanding the financial strain.
Coercion and mounting pressure
The woman further claimed that she was pressured into taking loans and gradually became burdened with liabilities in her name. She alleged that the marriage itself was used as a means to exploit her financially.
Over time, the total debt reportedly rose to ₹93 lakh.
Police investigation underway
A senior police officer confirmed that a case has been registered and a notice has been issued to the accused. Authorities have asked the complainant to provide financial records, including loan documents and transaction details, to support the investigation.
Police are currently tracing the financial transactions and verifying the extent of the alleged fraud. Further action will be taken based on the findings.