Cyber cell in-charge inspector Umesh Roria said police arrested Pankaj, Arjun, and Shivam on the charges of duping Rahul Ahuja of Rs 1 lakh.
He said Ahuja lodged a complaint at Kavi Nagar police station in June last year that he transferred Rs 1 lakh in an account suggested by the accused as they promised easy loan.
He said he received another call claiming that the loan has been sanctioned and it can be disbursed only after he pays final instalment of Rs 1 lakh.
The case was transferred to the cyber crime branch for investigation.
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Explaining their modus operandi, Roria said the trio used to lure needy traders and businessmen on the pretext of giving them hassle free loans from various banks and used to ask them to deposit certain "processing fee" into their bank accounts.
Thereafter they used to send fake loan confirmation letters on their address.
They three have been sent to jail.