LUCKNOW, Oct. 12 -- A 21-year-old man was allegedly cheated of nearly Rs.10 lakh on the promise of a Rs.4 crore startup loan. Two men, accused of extortion and criminal intimidation, were arrested in Lucknow on Sunday, police said.

According to an FIR lodged at Vibhuti Khand police station, representatives of Udyam Setu Consultant Service contacted the victim in July 2026 after he found the firm through an Instagram advertisement. They allegedly promised to arrange a loan worth crores with minimal documentation.

The youth, who had basic documents, including Aadhaar, PAN and educational certificates, was persuaded to apply for the loan. He transferred around Rs.10 lakh to the consultancy over several months, but the promised loan never m...