Six persons have been arrested for allegedly cheating over 2,000 women on the pretext of providing them loans at low interest rate.
According to police, Umesh Mhetre started a micro finance company and collected Rs 2,600 each from over 2,000 women of a 'Women Saving Group' from Ichalkaranji and Kolhapur.
Mhetre allegedly lured them with 'business loans' of Rs 30,000 at low interest rate and collected Rs 50 lakh from them.
The women, however, on finding that the cheques issued by his company were "fake", attacked Mhetre's office and handed him over to Ichalkaranji police, they said.
Police arrested five more persons in this connection.