HYDERABAD: The Hyderabad cybercrime wing has filed a chargesheet in court in connection with one of the cases registered against microloan applications operated by Chinese nationals. The suspects working for China-based firms in India had siphoned up to Rs 30,000 crore from the public in the form of loan recoveries.
The cybercrime wing had arrested 28 persons, including three Chinese nationals – Yi Bai, Zhu Wei alias Lambo and Liang Tian Tian — in New Delhi. While the cybercrime wing has registered around 30 separate cases in the instant loan app cases, the chargesheet was filed in the case registered in December 2020, while other cases are still under investigation.
Police stumbled on the fraud pulled off by the instant loan app companies after they arrested a gang from New Delhi, which included Zhu Wei. The police had then found the gang had carried out 1.4 crore transactions to the tune of `21 crore with victims spread across the country. In this case, police are awaiting the forensic reports.
Money diverted to Virgin Islands
It was later found that the amounts were diverted to Indonesia and then to China. Police had also found that the profits on these loan app firms were diverted for investments in the Virgin Islands.Further investigation revealed that there were many other people operating on behalf of the loan app firms. These employees are tasked with recovering loan amounts from the beneficiaries and resort to harassment in different forms to recover the money.
This included sending messages to all contacts of the loan receiver, making abusive calls to their family members. Due to the harassment from these firms, at least six people have died by suicide in Telangana.