Name of Complainant	Vikram Mishra
Date of Complaint	August 1, 2023
Name(s) of companies complained against	Liquiloans
Category of complaint	Cyber Crime
Permanent link of complaint	Right click to copy link
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Dear Liquiloan team,

I am writing this email on behalf of the students who are affected and to bring a serious issue of fraud to the notice.Please find attached a file for your reference with the student’s details.

The loan amount has been granted and credited to a third-party account (Geeklurn) by fencing/misleading words, we all were not aware that the loan amount will be credited to the Geeklurn account in one shot. You guys told us during the admission “Your verification will be done through a video call and you have to submit an OTP. That’s why we submitted the OTP which was actually used to sign documents on our behalf. They(your partner institute Geeklurn) assured us” We do not need to pay the course fee until we get selected as a data scientist in an IT company with a minimum 7.5 LAP job.

Also, they mentioned that they will provide a scholarship for paying the course fee (that is not a standard fee, it is not the same for every student), and for receiving the amount you have to submit your bank account details thus the amount can be credited to your account. The scholarship funds that were supposedly guaranteed turned out to be non-existent, leaving students burdened with unexpected financial obligations. This not only puts immense strain on their personal finances but also jeopardizes their educational aspirations and overall well-being.

Regrettably, we must bring to your attention that the scholarship amount has been discontinued since March, and despite our attempts to reach out to the academy, there has been no response or resolution to this matter. Consequently, we have been forced to pay the EMIs from my personal pocket, which has placed a significant burden on our financial situation as a student. Given the sudden cessation of the promised scholarship and the lack of communication from the academy, we find ourselves in an untenable position. As a student, we are unable to sustain the loan repayments without the scholarship support that was initially agreed upon.

It is disheartening to witness the impact these fraudulent activities have on the dreams and futures of young individuals who are eager to pursue their education and contribute to society. As concerned individuals, we believe it is imperative to take immediate action to expose these unethical practices and protect future students from falling victim to such deceitful schemes. In light of the circumstances described above, we kindly request the immediate cancellation of the education loan. It is our sincere hope that you can understand the difficulties which we (Students) are facing and take prompt action to alleviate this financial burden.

We are not capable of paying the EMIs, you can directly recover your amount from Geeklurn. We would greatly appreciate your urgent attention to this matter and a prompt response confirming the cancellation of the education loan. Additionally, any information or guidance on the steps we should take moving forward would be highly valued.I trust that you will take the necessary steps to address these fraudulent activities promptly and provide justice to those who have been affected. You guys are equally responsible for this process. Liquiloan proceeded with the loan after receiving just a request from another person (Geeklurn) on our (Student) behalf. This is the job guarantee program so we joined the course and agreed to pay the course fee after placement but they trapped us in the name of education, Finance partners are also equally responsible in this game.

One more thing If the amount is taken as an education loan then how is it converted into a personal loan now? and the same has been transferred in one shot. Further, we are also ready for a legal battle if proper inquiry and resolution will not be provided.

Hope you will understand our mental situation and assess the seriousness of this matter, please do the needful asap.

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