Mehsana man defrauds people via ‘My Happy Loan Network’ app; complaint filed

Mehsana : A Division police here in the city have filed a complaint against Piyush Vyas for alleged fraud and breach of trust. Vyas is alleged to have deceived individuals by persuading them to enroll customers for a small fee, promising interest-free loans in return.

The complainant, Raju Dantani, a 35-year-old resident of Kadi, narrated that in January, he came across a company named “My Happy Loan Network.” He got to know about it through his friend, Viraji Thakore, who had also communicated with Vyas, the company’s owner.

Dantani explained that he and Viraji reached out to Vyas, who instructed them to become members by paying Rs 1,000 and enrolling three additional members. Each member would then qualify for an interest-free loan of Rs 2,000, with only a repayment of Rs 1,000 required. If they recruited five members, they were promised a gift worth Rs 1,000.

The entire enrollment process was conducted through the company’s mobile app, which assigned Dantani a membership ID as 1067. He claimed to have enrolled approximately 53 people. When he inquired about the promised money, he was informed that it would be credited to his app account, which he could later transfer to his bank account.

However, Dantani alleged that he was deceived into continuously depositing money and enrolling new members. After enrolling 15 people, he was supposed to receive a loan of Rs 15,000 and a gift of Rs 3,000, but Vyas failed to deliver on these promises. No other “members” received any funds either. Dantani mentioned that the app indicated the existence of around 26,000 registered members.

Dantani noted that due to the relatively small amount of Rs 1,000 involved, few people have come forward to file complaints. Dantani stated that his objective is to prevent Vyas from defrauding more individuals and that is why he went to police. DeshGujarat