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Home | Hyderabad | Loan Apps Case Hyderabad Cops Identify 75 Bank Accounts

Loan apps case: Hyderabad cops identify 75 bank accounts

The police, who are probing the role of foreign nationals in the scam, is also making efforts to track down a few more persons involved in the illegal business

By Telangana Today
Published Date - 24 December 2020, 12:50 AM
Loan apps case: Hyderabad cops identify 75 bank accounts
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Hyderabad: The Hyderabad City Police have identified 75 bank accounts that were allegedly linked to the illegal micro-financing business scam run by the four companies that have been booked for extortion, criminal intimidation and cheating.

The bank accounts were opened in the National Capital Region (NCR) Delhi and Bengaluru by the four companies Liufang Technologies Private Ltd, Hotful Technologies Private Ltd, Pinpoint Technologies, and Nabloom Technologies Private Ltd. While the City Police has arrested 11 persons, the Cyberabad Police have arrested six in connection with the scam so far.


The police, who are probing the role of foreign nationals in the scam, is also making efforts to track down a few more persons involved in the illegal business and who went absconding after the scam-hit headlines in the wake of three suicides.

The police, who raided call centres in Hyderabad and Gurgaon in the last two days, seized 700 laptops and other gadgets. “We are issuing notices to around 600 executives working at the call centre in the city under Section 41 A of CrPC,” a senior official said.

An investigation by the police has revealed that salaries of the 600 call centre employees from the city were arranged through a Madhapur-based firm. These transactions are being examined.

“We are trying to ascertain from where the Madhapur company received the money to pay the salaries,” officials said, adding that money laundering and hawala transaction angles too were being probed.

Meanwhile, the Cyberabad Police received two more complaints against online instant loan app companies on Wednesday. The Cyberabad police had arrested the six persons after raiding call centres in Gachibowli while teams are carrying out searches in a few other cities across the country.

The police have also decided to issue notices to call centre executives who threatened and harassed borrowers over the phone and through WhatsApp messages. The details of these persons were being gathered from documents at the call centres, officials said.


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