Hyderabad police arrest 11 persons for instant loan fraud

The raids were conducted in Gurgaon and Hyderabad over the last two days with around 700 laptops being seized by the police.

By   |  Published: 22nd Dec 2020  5:01 pmUpdated: 22nd Dec 2020  5:33 pm

Hyderabad: Eleven persons were arrested by the Hyderabad City Police after raids in connection with instant loan fraud cases registered in the city. The raids were conducted in Gurgaon and Hyderabad over the last two days with around 700 laptops being seized by the police.

City Police Commissioner Anjani Kumar said four companies hired around 1,100 executives to run the multi-crore illegal businesses through which thousands of people were victimized across the country.

The companies were identified as Liufang Technologies Private Limited, Hotful Technologies Private Limited, Pinpoint Technologies and Nabloom Technologies Private Limited. The companies were registered in Bengaluru with the names of the the directors given as Jeevan Jyothy, Selvaraj Singi, Ravi Kumar Mangala and Venkat. They set up call centres in Hyderabad and Gurgaon and appointed executives to lure customers initially and later collect money from defaulters.

“These callers took instructions from their superiors based in Indonesia. The entire operation of these loan apps appears to be run by Chinese nationals. This was a common factor revealed during the investigation into the multi-crore colour prediction game frauds busted by the City Police,” Anjani Kumar said.


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