Instant loan fraud: China national proves a tough nut for Cyberabad police

Cyberabad Police say the accused Yi Bai who was arrested in loan app case was not cooperating and sharing any information

Hyderabad: The Chinese national Yi Bai alias Dennis who was arrested by the Cyberabad police as part of investigations in the illegal microfinance business is proving to be a tough nut to crack.

The police officials who questioned him in connection with the four companies and source of money said Dennis was hardly cooperating with the police and not sharing any information with them.

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A team of officials including senior officials questioned the suspect about the source of money and funds used for setting up the call centers in Gurgaon and Hyderabad. Each time the police put any question, the Chinese national evaded it saying he does not know much about the financial transactions.

“Since his detention and subsequent arrest, he had not revealed the password of his iPhone. We suspect there is a lot of data and information stored in the mobile phone and it holds key to the illegal microfinance racket,” said a senior official of the Cyberabad police.

The police will be seeking custody of Dennis and the other three suspects in the case for further investigation. “The point for investigation is the source of money that was used to give loans to the applicants. We would like to know if the money was routed into the country from China, Singapore, or any other country or illegal businesses within the country,” said the official.

Meanwhile, the police are in the process of identifying the bank accounts of these four companies and financial transactions. A list of the employees working in the call centers is also being prepared and depending on their job profile, action would be initiated against them.

“Few of the call centre employees were assigned the task of humiliating the borrowers who did not repay in time. It clearly establishes that they knew what they were doing is wrong, so the action will be definitely initiated against them,” Cyberabad police said.

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