Chinese loan application ring run from Singapore busted, 4 detained | Chandigarh News
The arrests follow a Delhi police crackdown on a network of more than 100 Chinese loan apps last month in which 22 people were arrested.
Gurgaon Police said the four defendants and their network had provided instant micro-loans to almost a million people across India. The racket operated through call centers which Gurgaon and Noida lacked. It gave small loans to people in need at high interest rates of 25-30% and large processing fees, investigators said.
The four who led the NCR operations and were arrested are Deepak (30), Ankit (26), Sakshi (30) and Divyansh (26). All four are residents of Delhi. Once they disbursed a loan, which was repayable through IME, the harassment started as soon as someone defaulted. Police said they made calls and threatened not only those who took out the loans, but also their families, relatives and friends. Police also uncovered several instances of harassment in the form of obscenely altered photos that the accused sent to people on loan applicants’ contact list, accessible through the apps, to coerce them into paying. The accused also allegedly called random people on the contact list and threatened them. “When you download a loan app, it asks you for access to your contacts. A person who needs money clicks the ‘yes’ button without thinking twice. This is how the app accesses the This information was used by the accused of harassing people to repay loans,” said CPA (cybercrime) Priyanshu Diwan.