Instant loan fraud: Rachakonda cops arrest one more Chinese national

The arrests were based on the confession of the Chinese couple arrested earlier. Police said the questioning of Parusha Ram Lahu Takwe, director of Jia Liang Infotech Pvt Ltd, Pune and his wife Liang Tian Tian

Hyderabad: One more Chinese national, along with a resident of Mumbai, was arrested by Rachakonda Cybercrime police in connection with the ongoing investigation into illegal instant online loan apps. Officials have also frozen Rs 30 crore in various bank accounts.

Police said the questioning of Parusha Ram Lahu Takwe, director of Jia Liang Infotech, Pune, and his wife Liang Tian Tian, who were arrested earlier, led them to Jian alias Mark (26), a Chinese national and Vivek Kumar (26) of Thane, Mumbai, both associated with Ajaya Solutions Pvt. Ltd. While Mark is a representative of Chinese directors of the instant loan app firms based in India, Vivek Kumar worked as an accountant.

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According to the police, Mark came to India in July, 2019 on a business visa and joined as a representative on behalf of Chinese nationals Xu Nan, Xu Xinchang and Zhao Qiao, directors of micro-finance loan app firms. Police said the firms provided instant micro-loans at a very high rate of interest to the borrowers through online loan apps that included Krazy Bean, Krazy Rupee, Cashplus, Rupee Pro, Gold Bowl, First Cash, Real Rupee, Credit Rupee, Cool Cash, Money now and Money Bell.

“Initially, they operated call centres at Thane and later entered into an agreement with Jia Liang Infotech, Pune for recovery of loan amounts from the borrowers,” Rachakonda Police Commissioner Mahesh M Bhagwat said. These firms also did not have any valid licenses registered with Reserve Bank of India to run their businesses based on online applications.

“The online applications are developed in such a way that on installing them, the borrower’s personal details from the phone are compromised and accessed by the lender,” Bhagwat said.

After one week of sanctioning the loan, they provided the customer data to Jia Liang Infotech for calling the borrowers and seeking repayments. Borrowers who did not respond or repay were subjected to abuses and threats. The call centre staff were making calls to relatives and friends of borrowers also.

Following a tip-off, a team went to Thane and caught the suspects and brought them to Hyderabad on a transit warrant.

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