Multi-Crore Loan App Scam: Chinese Man Arrested in Delhi
The scam involves a network of companies that charged interest as high as 36 percent and then harassed borrowers.
A Chinese national, Zhu Wei, whose alias is Lambo, has been arrested by the Hyderabad Police in relation to the multi-crore online loan scam case. The scam reportedly involves a network of companies that charged an interest as high as 36 percent from their victims, and proceeded to harass them, NDTV reported.
The 27-year-old was intercepted while he was trying to leave the country on Wednesday, 30 December at the Delhi airport. The police said the man belonging to China's Jiangxi province was arrested on 31 December, NDTV reported.
Wei heads the operations of the illegal load applications run by Aglow Technologies, Liufang Technologies, Nabloom Technologies, and Pinprint Technologies, the police said.
A probe was launched after three people died by suicide upon alleged harassment by online loan sharks. According to NDTV, the investigation further revealed that so far these firms have made at least 1.4 crore financial transactions, worth nearly Rs 21,000 crore.
A bulk of the transactions took place over the last six months through payment gateways and bank accounts linked to these companies, the police said. They added that a large number of international transactions also happened through bitcoins.
K Nagaraju of Andhra Pradesh's Kurnool district, who allegedly aided in the harassment and abuse of borrowers through operation of call centres, was also arrested.
Hyderabad Police has arrested 18 persons in relation to this case till now.
(inputs from NDTV.)
(At The Quint, we are answerable only to our audience. Play an active role in shaping our journalism by becoming a member. Because the truth is worth it.)