By raiding a contact centre here, the Cyberabad police uncovered an instant loan app fraud gang led by a Chinese national, and the local police followed up with the arrest of four people.
Yi Bai alias Dennis, Satyapal Khyalia, Aniruddh Malhotra, and Murathoti Richie Hemanth Seth were among those arrested. The main suspect, Zixia Zhang, and another suspect, Umapathi, gave the cops a slip. Two laptop computers and four cellphones were seized by police.
Police raided the Chinese national's contact centre, Cubevo Technology Pvt Ltd (Skyline), and arrested him along with three others. Skyline Innovations Technologies India, its head office in Delhi, was registered with the Registrar of Companies in Gurgaon.
Eight instances against lending applications are being probed, according to Cyberabad police commissioner V.C. Sajjanar. In this case, the firm's directors Zixia Zhang and Umapati alias Ajay created 11 instant loan applications that provided loans to consumers while collecting large repayments in the form of interest, processing fees, GST, default fees, and other fees.
They also imposed a 1% penalty once the loan time was over. They went so far as to abuse, harass, and threaten defaulters through their phone centres.
Borrowers were even blackmailed by the accused, who sent forged legal notices to their friends and family members.
On December 17, police received the first report alleging harassment of loan application handlers. The complainant alleged that he applied for a '2,015 seven-day loan.' On August 25, after deducting GST and the processing charge, he received a loan of $1,600.
Later, he received calls from other mobile numbers advising him to apply for an immediate loan through their websites. He accepted a total loan of '1.2 lakh from 28 fast loan applications on their recommendations. Despite the fact that he had repaid the loan amount — '2 lakh plus interest — he continued to receive calls from various mobile numbers. Telemarketers began harassing and threatening him, as well as blackmailing him with legal letters.
It was unclear whether these applications were linked to any NBFC, according to police. Citizens seeking such loans should read the terms and conditions carefully, verify the companies' licences to see if they obtained permission for their business from the RBI, district collector, or other authorities, and avoid downloading any app that requests access to one's contacts, files, or gallery.
Meanwhile, on Friday, the Hyderabad police detained three people in the quick loan app case: K/ Eshwar of Anniu Pvt Ltd, Madhusudhan and Satish Kumar of Truthigh Pvt Ltd, all Bengaluru locals.
These men were in charge of 350 call centre professionals in Bengaluru's HSR layout area. The Hyderabad police have so far recorded 27 charges.
"We have discovered 42 apps linked to instant loans as well as 350 virtual accounts/bank accounts as payment gateways," Avinash Mohanty, joint commissioner of police, Detective Department, said. These accounts were frozen with a total value of about '87 crore.
During the examination, it was discovered that two of the four companies' instant apps — Liufang Technologies, Hotfull Technologies, Nabloom Technologies, and Pin Print Technologies — were linked to the suicide of a victim in Rajendranagar. Six more accounts were discovered that were linked to the suicide of the Siddipet suicide victim.
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