Loan app racket busted in Chandigarh with Chinese national and 20 others arrested
Chandigarh, Sep 16 (SocialNews.XYZ) The Chandigarh Police Cyber Cell has busted an illegal instant loan app racket with the arrest of a Chinese national who was the kingpin and ran the racket with 60 people under him, the Superintendent of Police said on Friday. Ketan Bansal font.
Twenty-one defendants, including 34-year-old Chinese national Wan Chengua, have been arrested so far in a 10-day operation spanning five states.
According to the police investigation, the defendants were working on online loan applications, namely Hugo Loan, Coin Cash, AA Loan, AK Loan, Win Credit. The police asked Google to remove the apps from the Play Store.
It was found that they were using a virtual number for contact. “We are trying to trace the origin of these virtual numbers as well as other suspects. The defendants were using social media apps – Dingtalk, Wechat and GB Whatsapp. also been sent to verify IP details and other information about the suspects in the case,” Bansal said.
Most of those arrested were employees of PC Finance, based in Gurugram, with Chinese nationals in the forefront. “We checked the past facts of PC Finance and found that Peter, Tray and Nicoholson held the positions of responsibility and that company was closed in 2020. Now they have changed their way of working and they have been running their union since the China and made Parvej Alam, aka Jitu Bhadan and aka Sonu Bhadana, as the boss, who is already arrested, of an online loan syndicate.”
Jeffery Jhu from China, who left India in 2020, is involved in the syndicate and he manages the finances of the online loan application scam.
Arrested accused Anshul Kumar is Jhu’s main associate in India and he is involved in money laundering of around Rs 100 crore.
Also arrested, Chinese defendant Wan Chengua worked under Jeffery and he paid around Rs 35-40 lakh to Kumar who then handed over the money to Parvej Alam.
Chengua’s visa and passport had expired in 2020.
During the investigation, it was revealed that instead of using WhatsApp, Facebook or Instagram, they use GB WhatsApp. Similarly, Dingtalk and WeChat apps have been used by fraudsters to commit fraud.
All online loan applications cheated money through UPI credentials and were connected to bank accounts. During the investigation, some of these accounts were checked and revealed that wholesale transactions were taking place on these accounts. Twenty accounts with Rs 50 lakh were frozen.
It can also be assumed that these suspicious accounts are involved in money laundering. “We have written to the Enforcement Directorate, the Financial Intelligence Unit and the CBI about this. These accounts are opened in the names of companies and businesses. After verification, some of them were discovered as fictitious companies and the registration was done using fake documents,” he said.
All the accused were brought before a local court on Friday and 18 of them were taken into custody.
DGP Parveer Ranjan met with Superintendent of Police Ketan Bansal and DSP (Cyber) A. Venkatesh and enjoyed both officers.
He also recognized the investigative team consisting of Inspector Ranjit Singh, Deputy Inspectors KD Singh and Parminder Singh, Assistant Deputy Inspector Balwan Singh, Chief Constables Rajender Singh, Bahadur Lal, Balwinder Singh, Sunit , Rampal, Gurmeet Singh and Senior Constable Vikas Bastara. Sachin, Constables Pramjeet, Vikas Dahiya, Sonit, Baljeet, Sarvind, Veer Davinder, Ashok, Dinesh, Ombir, Manpreet and Kavita with Rs 75,000 in cash and a first class certificate for good work.