DHARAMSALA, 1 Feb: Cyber Crime sleuths of Hyderabad police have arrested four persons including two Tibetans allegedly for their involvement in loan app case, a racket in which instant personal loans are offered through mobile apps at exorbitant interest rates by unauthorised lenders.
Two Tibetan refugees -Yeshi Gyatso and Nyichak Dhondup- along with Niranjan Umapathi and Usha, who are residents of Bengaluru were arrested in Bengaluru on Saturday for their involvement in loan app harassment case, media reports said citing joint commissioner of police Avinash Mohanty.
According to reports, the arrested lot were allegedly associated with 19 apps through which loans were disbursed. The irony is that none of the apps was approved by the Reserve Bank of India (RBI).
Following the investigation, the police have stated that the four persons they arrested have been working as Directors of two different companies located in Bengaluru and that they were hired by two Chinese nationals- Chief Executive Officer (CEO) Cheen Wu, and Vice-President Andy Lu Wenjie- who are suspected to be residing in China.
The quartet arrested by police were said to be reporting directly to the two Chinese nationals and that four arrested persons have told police that they came to know about the job through an advertisement and that they were on Rs 1 lakh per month payroll.
Authorities have also said that they set up a call centre with 200 employees to make calls to defaulters and harass them to return the money.
While the fraudsters offer of Instant loans without any official documentation is tempting, the problems begin when the borrowers fail to repay the amount on the due dates the lenders then uses systematic abuse, harassment and threats the defaulters through the call centres operating from across the country by blackmailing the borrowers by sending fake legal notices to their relatives and family members to multiple abusive calls in a day.
The rogue loan case came to the limelight after the Hyderabad police froze 75 bank accounts holding Rs 423 crore, a scam conducted through 30 mobile apps without approval from the RBI.
While investigations are on, so far police have arrested many people including Chinese nationals in multiple such cases, in Hyderabad, Bengaluru, Gurugram and Chennai.