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Two more held in instant loan apps case

The Rachakonda police reported the arrest of another Chinese national and his Indian colleague on Wednesday, as part of their investigation into alleged financial irregularities by rapid loan app companies.


HE. Jian (26) alias Mark from Jiangxi, China, ran over 30 instant loan mobile apps via which money was disbursed, together with his Indian associates. They also partnered with Pune-based Jia Liang Infotech Private Limited to retrieve the loan funds. The number of Chinese nationals apprehended by Telangana police has now risen to four.





Liang Tian Tian, a Chinese national, her husband Parshuram Lahu Takwe, and Aquib Shaik were arrested on December 27. The police detained HE. Jian and Vivek Kumar (26), an accountant with Ajaya Solutions Private Limited, the firm represented by the former, based on their confession.


HE. Jian arrived to India on a business visa in July 2019 and joined as a representative on behalf of Chinese nationals Xu Nan, Xu Xinchang, and Zhao Qiao, who are the directors of four microfinance loan applications companies, according to Commissioner of Police Mahesh M. Bhagwat. Ankur Singh was also named to the board of directors.


"At first, they ran contact centres in Thane to recover loan amounts from borrowers, and then they partnered with Jia Liang," he explained.


If a borrower fails to reply or return the loan, the firms direct Jia Liang to begin insulting the borrowers and threatening them with repayment of the outstanding debt. "The call centre workers were making calls to the borrowers and their families and friends as per their instructions, insisting that they repay the loan amounts with extraordinary interest added by the corporations," the officer said.


The police have frozen a total of 30 crore in the bank accounts of the companies in issue, with more accounts being vetted.


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