Mysuru: In a bid to secure a home loan of Rs 25 lakhs, a lecture from the city ended up losing Rs 44,000. The incident reportedly occurred in V V Puram station limits.

Lokanath, a resident of Bogadi who works at a private college as a lecturer was seeking a home loan. He came upon a newspaper advertisement offering low-interest loan from Mahindra Finance Company, put up by a person named Vinay. He immediately contacted the given number.

The lecturer met the accused, Vinay personally and discussed about the loan procedure. Vinay asked him to deposit Rs 43,900 in Syndicate bank as registration fee. The lecturer deposited the cash and after few days when he enquired about the loan, Vinay assured to grant the loan at the earliest.

The lecturer grew suspicious when the accused demanded more cash to be transferred to his account. Immediately, the lecturer contacted Mahindra officials and got the shock of his life when they claimed that there were no such officers granting loan from their company.

The lecturer called the accused back only to find the mobile switched off. Hence, he filed a cheating case at V V Puram police station. A manhunt is launched to nab the accused.