Loan app-cum-extortion racket: Tax consultant, law student arrested by Chandigarh Police
2 years, 3 months ago

Loan app-cum-extortion racket: Tax consultant, law student arrested by Chandigarh Police

Hindustan Times  

The ongoing investigations into the loan-cum-extortion racket has unearthed the involvement of a tax consultant who had been helping the main accused in routing the extorted money to shell companies and further abroad through hawala channels. Apart from the tax consultant-cum-advocate, Sunil Kumar Chauhan, 46, of Ghaziabad, police have also arrested three more accused, including Abhishek Kumar, 30, an LLB student from east Delhi, and Shashikant Yadav, 30, and Ashok Kumar, 35, of Jodhpur, Rajasthan. “On analysing the money flow to different bank accounts in the racket, it emerged that all the extorted money was transferred to bank accounts of shell/ fake companies opened and managed by these accused, who further helped the main accused with money laundering and hawala trade,” said superintendent of police, Ketan Bansal, adding that they were also verifying the role of bankers. The racket was busted earlier last week with the arrest of Chinese national Wan Chengua, 34, and 20 others who had been blackmailing people who installed their instant loan apps.

Accused Tax Consultant  hawala  produced  kumar  tax  loan  student  appcumextortion  shell  law  racket  consultant  arrested  chandigarh  accused  till  sent  money

History of this topic

ED arrests two Chinese nationals from Tamil Nadu over shady digital loan apps
1 month ago

ED arrests two Chinese nationals from Tamil Nadu over shady digital loan apps

India Today  

The Enforcement Directorate arrested two Chinese nationals, named Xiao Ya Mao and Wu Yuanlun, in connection with a money laundering case related to digital loan apps operating across India. As part of the ongoing investigation, ED has frozen 96 bank accounts across Delhi NCR, Haryana, Punjab, Gujarat, and Chandigarh, containing a total balance of Rs 19.43 Crore. The case centred …

Punjab: Extortion racket busted, six held
2 months, 2 weeks ago

Punjab: Extortion racket busted, six held

Hindustan Times  

Police have busted an inter-district extortion racket with the arrest of six persons, officials said on Thursday. Senior superintendent of police Harkamal Preet Singh Khakh said the accused had been operating across several districts, targeting people with well-orchestrated scams. Khakh said the operation was initiated following a complaint by 65-year-old shopkeeper Narinder Singh of Sultanpur Lodhi, who said that he …

Gang held for running exortion' via loan app
1 year, 4 months ago

Gang held for running exortion' via loan app

Deccan Chronicle  

Hyderabad: A gang of five interstate loan app cybercrime recovery agents involved in financial exploitation of borrowers after sending them morphed obscene videos to extort money, were arrested by sleuths of Rachakonda Cybercrime Police. Gina provided links containing details of loan app borrowers to Mishra and Pal, D.S. Gina, who is absconding, was consistently providing the accused with a daily …

Gang of three “ police informers “ arrested for running extortion racket
1 year, 5 months ago

Gang of three “ police informers “ arrested for running extortion racket

The Hindu  

The Sadashivanagar police on Monday arrested a gang of three people who claimed to be police personnel, abducted a para medic student and robbed ₹ 1.7 lakh from him. The accused were police informers and misused their proximity to the police, and started an extortion racket, a police officer said. According to the police, the accused who claimed to be …

How fake loan apps extort money and push people into debt traps
1 year, 5 months ago

How fake loan apps extort money and push people into debt traps

The Hindu  

July 13, 2023 08:56 pm | Updated July 14, 2023 01:07 pm IST - Bengaluru Bengaluru Ramesh Reddy, 35, borrowed ₹2 lakh for a couple of weeks from a money-lending app a month ago to tide over a crisis in his business. Good Bye.” Flood of apps Loan apps advertised on social media platforms, like Facebook and Instagram, are an …

Bengaluru cops book 15 loan apps for hacking into borrower’s phone
1 year, 5 months ago

Bengaluru cops book 15 loan apps for hacking into borrower’s phone

The Hindu  

Bengaluru Bengaluru East Cyber Crime, Economic Offences and Narcotics Police have booked 15 loan apps for hacking into a mobile phone of a borrower, and morphing pictures stolen from the cell phone. The police have booked Easy Money Loan App, Salarypls, Easy Loan, Cash Me, Pocket Me, Get Rupee, Incash, Money, Rainbow Money, Magic Loan, Homecash Delhi Credit, Shinny Loan, …

Another Chinese loan app extortion racket busted in capital; 18 apprehended
1 year, 8 months ago

Another Chinese loan app extortion racket busted in capital; 18 apprehended

The Hindu  

The Delhi Police has busted a call centre, which was functioning under the guise of a finance company, and apprehended 18 persons for allegedly extorting money from people through a Chinese loan app, senior officers said on Friday. The DCP said that during the interrogation, Amit revealed that he and Khan used to work at EMI loan reminder call centres …

Delhi cyber police busts sextortion racket, 5 arrested
1 year, 10 months ago

Delhi cyber police busts sextortion racket, 5 arrested

India Today  

Five men have been arrested for allegedly extorting money from a businessman on the pretext of blocking the victim’s obscene video on social media. A businessman registered a complaint alleging that he received a phone call from a person posing as inspector Vikram Rathore from Delhi Police’s Crime Branch and extorted money on the pretext to block the complainant’s obscene …

Harassed by loan app agents, man ends life
1 year, 10 months ago

Harassed by loan app agents, man ends life

Deccan Chronicle  

Vijayawada: A man identified as Thangellamudi Rajesh, aged 34 years and working in a private firm, died by suicide at his home at Suraiahpeta in the city on Saturday night. Executives of loan apps through which he had taken loans had been threatening and harassing him for repayment. According to Bhavanipuram police, Rajesh had taken loans of ₹2,000 and above …

7 arrested in couple suicide and loan app harassment case
2 years, 3 months ago

7 arrested in couple suicide and loan app harassment case

Deccan Chronicle  

KAKINADA: The south zone police in Rajamahendravaram have arrested seven persons in connection with the recent suicide of a married couple there. The East Godavari police told the media that the couple was harassed and insulted by two loan apps -- Hundi Loan and Speed Loan -- and the arrested persons were behind the two apps. SP Sudheer Reddy said …

Gurugram police busts gang which extorted people on pretext of providing loans
2 years, 3 months ago

Gurugram police busts gang which extorted people on pretext of providing loans

India TV News  

Highlights Gurugram police have busted a gang which was extorting people in the name of providing small loans The four arrested accused were dummy directors, shareholders and other positions in the company The arrested accused were shareholders, dummy directors and management staff in the company Gurugram police have busted a gang which was extorting people in the name of providing …

When Lending Apps Bully Victims, Debt Trap Sometimes Becomes Deathtrap - News18
2 years, 3 months ago

When Lending Apps Bully Victims, Debt Trap Sometimes Becomes Deathtrap - News18

News 18  

Predatory lending by instant loan apps has led to a spate of suicides in several states. A few months ago, 28-year-old Rajkumar living in Hyderabad also ended his life after facing exactly the same humiliation, which is the modus operandi of Chinese loan apps. PART 5 | Govt Begins Crackdown on Chinese Loan App Companies in Bengaluru, Gurugram, Hyderabad Even …

Four loan app agents held for ‘harassing’ Andhra Minister, YSRCP leader
2 years, 4 months ago

Four loan app agents held for ‘harassing’ Andhra Minister, YSRCP leader

The Hindu  

The Nellore police arrested four persons belonging to a loan app firm on charges of harassing Andhra Pradesh Agriculture Minister Kakani Govardhan Reddy and former Irrigation Minister P. Anil Kumar, demanding repayment of loans advanced to some persons allegedly close to the duo. Mr. Govardhan Reddy, after interacting with the people of his Sarvepalli Assembly constituency during the ‘Gadapa Gadapaku …

Despite awareness and measures to curtail the menace, loan app scams are on the rise in Bengaluru
2 years, 5 months ago

Despite awareness and measures to curtail the menace, loan app scams are on the rise in Bengaluru

The Hindu  

A 37-year-old businesswoman from Yelahanka recently approached the North East Cyber Crime Police to report about five mobile numbers, which were not only spamming her with calls, but had also accessed her trading app to withdraw ₹4,800. At least one in 10 cyber crime cases being reported in the city are related to harassment by loan apps, said senior police …

Call centre racket uncovered in Bengaluru; 11 persons from Gujarat arrested
2 years, 5 months ago

Call centre racket uncovered in Bengaluru; 11 persons from Gujarat arrested

The Hindu  

Eleven persons, working in two Whitefield-based call centres that were running phishing operations targeting bank customers in the United States have been arrested by Bengaluru police. that a fraudulent/ suspect transaction or purchase has noticed in one of their accounts — such as a bank account or an Amazon account — and the call is being made on behalf of …

Interstate gang cheating people on pretext of facilitating loans busted by Delhi police, 4 held
2 years, 5 months ago

Interstate gang cheating people on pretext of facilitating loans busted by Delhi police, 4 held

India Today  

The Cyber police station of Delhi police busted a gang of criminals for allegedly cheating people on the pretext of facilitating online loans. Police also recovered ATM cards, debit cards, seven mobile phones, a laptop, a dongle, a tablet, checkbooks, one BMW car, passbooks and Rs 20,000 cash from the possession of the accused. The accused used to get cheated …

Illegal loan firm run by Chinese nationals busted in Bengaluru
3 years ago

Illegal loan firm run by Chinese nationals busted in Bengaluru

Op India  

Karnataka Police have busted a loan racket run by two Chinese Nationals who were involved in fraudulent money transactions and gave loans to people at exorbitant processing fees and unreasonably high interest rates. #Karnataka police have busted a racket allegedly run by #Chinese nationals, who gave loans at exorbitant rates and harassed and humiliated the customers for ‘violation’ of laws, …

Delhi Police busts sextortion racket, arrests mastermind from Rajasthan
3 years, 2 months ago

Delhi Police busts sextortion racket, arrests mastermind from Rajasthan

India Today  

The Delhi Police Crime Branch busted a sextortion racket on Saturday and arrested the mastermind from Rajasthan's Bharatpur district. According to police, one of the victims alleged that he was receiving extortion calls from people posing as YouTube employees. Police seized an SUV purchased by the accused with extortion proceeds, as well as the accused's mobile phone, which was used …

Delhi Police Cyber Cell busts Rajasthan-based 'sextortion' racket, one arrested
3 years, 2 months ago

Delhi Police Cyber Cell busts Rajasthan-based 'sextortion' racket, one arrested

India Today  

Delhi Police’s Cyber Crime Cell has busted a Rajasthan-based ‘sextortion’ racket that used morphed videos of victims and extorted them for money. The matter came to light after CyPAD of Delhi Police received a complaint in which the victim alleged he had got a friend request on Facebook from a person who also sought his WhatsApp number. After technical analysis …

Twin Success for Delhi Police, Bust Cybercrime Rackets in Jamtara, Rohini
3 years, 3 months ago

Twin Success for Delhi Police, Bust Cybercrime Rackets in Jamtara, Rohini

News 18  

The Cyber Crime Cell of Delhi Police has arrested 14 people from the area of Jamtara, along the border of Bengal and Jharkhand. According to senior officials of the Cyber Crime branch, these cybercriminals used to operate throughout Jamtara and alert the entire gang upon seeing any new or unrecognized face in the area. Besides, sources also said that the …

Mobile app fraud: Uttarakhand Police identify two Chinese accused
3 years, 6 months ago

Mobile app fraud: Uttarakhand Police identify two Chinese accused

Hindustan Times  

The Uttarakhand Police’s Special Task Force has identified two Chinese citizens among the accused in the alleged mobile application fraud and crypto-currency-based money laundering racket. Cyber security concept hand protection network with lock icon and virtual screens Space put message Blue tone Additional director general Abhinav Kumar on Friday said the two have been identified on the basis of “technical …

China-based online money laundering racket using cryptocurrencies exposed: Cops
3 years, 6 months ago

China-based online money laundering racket using cryptocurrencies exposed: Cops

Hindustan Times  

Uttarakhand police claims to have busted an online racket suspected to have cheated at least ₹250cr from unsuspecting investors by promising to double their money in 15 days but siphoning it out of India instead by converting it into crypto currency. One Pawan Kumar Pandey, accused of running a shadow company to transfer the cheated money to his alleged “handlers …

China's dirty business exposed: 12, including 2 Chinese nationals, arrested in loan app case
3 years, 11 months ago

China's dirty business exposed: 12, including 2 Chinese nationals, arrested in loan app case

India TV News  

A couple of days after a Chinese national was arrested in Hyderabad in connection with the on going probe against the app-based lenders, the Delhi Police on Friday made further breakthrough in the probe. The Cyber Cell busted a gang involved in duping people through Chinese loan apps. As many as 12 people, including two Chinese nationals, were arrested. Acting …

Harassed for eight months, Bengaluru man paid Rs 6.4L for Rs 73K he took from Chinese loan apps
3 years, 11 months ago

Harassed for eight months, Bengaluru man paid Rs 6.4L for Rs 73K he took from Chinese loan apps

India Today  

Sudeep, who works as an assistant manager in a private insurance firm in Bengaluru, suffered for eight months for a loan he took through several apps. In his FIR, Sudeep has named apps such as Lend Now, Quick Cash, Palm Cash, Cash Era, Rupee Time, Cash Map, Fortune Bag, Go Cash, Neo Cash, Indeed, Snap IT, Lucky Rupee, My Cash, …

Instant Loan Apps Cases: Chinese National Among Two Arrested in Maharashtra
3 years, 11 months ago

Instant Loan Apps Cases: Chinese National Among Two Arrested in Maharashtra

News 18  

Two people, including a Chinese national were arrested on Wednesday in connection with the ongoing probe by police against instant app-based lenders, accused of harassing borrowers over repayment. "The arrested Chinese national came to India in July 2019 on a business visa and worked as a representative on behalf of three Chinese nationals, who are directors of some micro finance …

Telangana: Police arrest another Chinese national in loan app scam
3 years, 11 months ago

Telangana: Police arrest another Chinese national in loan app scam

India Today  

In its ongoing investigation against instant loan apps, the Rachakonda police arrested another Chinese national on Wednesday. While at least six persons have committed suicide due to the alleged harassment of the instant loan providers, police are facing a language barrier while investigating the Chinese nationals arrested during the investigation and believed to be the mastermind of the fraud. Top …

Loan app racket busted by Tamil Nadu Police, 4 including two Chinese nationals arrested
3 years, 11 months ago

Loan app racket busted by Tamil Nadu Police, 4 including two Chinese nationals arrested

India Today  

Two Chinese and as many Indian nationals have been arrested for allegedly operating instant loan apps in Chennai, police said on Saturday. The two Indians had been operating the call centre from Bengaluru and had employed over 100 people to provide quick online loans, they said. It was also revealed that another Chinese national was the head of the call …

Instant loan apps: 4 including Chinese national arrested
3 years, 11 months ago

Instant loan apps: 4 including Chinese national arrested

India TV News  

Four people, including a Chinese national, have been arrested for allegedly using coercive methods to recover dues from defaulters who had used 11 instant loan apps developed by them, police said. Two others, including another Chinese national are absconding and a hunt was on for them, they said. They were arrested on Thursday during a raid on a call centre, …

Online instant loan scam busted. Don't borrow money from these 11 apps
4 years ago

Online instant loan scam busted. Don't borrow money from these 11 apps

India Today  

If you like to borrow money from instant loan apps then you might want to reconsider. Police in Telangana’s Cyberabad has busted an online instant loan scam run by a Chinese national. The call centre, “Cubevo Technology Private Limited”, is a subsidiary of “Skyline Innovations Technologies India Private Limited” a company set up by Zixia Zhang and an Indian national …

Cyber Crime Cell of the Adyar police from Chennai bust a gang indulging in online loan fraud in Namakkal
4 years, 3 months ago

Cyber Crime Cell of the Adyar police from Chennai bust a gang indulging in online loan fraud in Namakkal

The Hindu  

The Cyber Crime Cell of the Adyar police busted a gang, operating from Komarapalayam in Namakkal district, swindling money from people here and elsewhere under the pretext of offering quick online loans. On September 9, Karuppaih, a driver from Kallukuttai, approached V. Vikraman, Deputy Commissioner of Adyar, alleging that in March, a young woman called him up and said she …

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