
KOCHI: Enforcement Directorate (ED) sleuths have arrested four Tamil Nadu natives over their links to China-based bogus loan apps, after a probe revealed the shell companies operated by them transferred over Rs 170 crore to their Chinese operators via Singapore since 2023.
The money swindled from victims of the bogus apps from across the country was sent through hawala networks and as cryptocurrency, the sleuths said.
The arrested persons are Daniel Shivakumar, 37, director of Xoduz Solution in Jawahar Nagar, Chennai; Kathiravan Ravi, 42, director of Future Vision Media Solutions in Mudichur, Kancheepuram; Anto Paul Prakash, 32, proprietor of Global Exposition and Infomedia Solution in Alandur, Kancheepuram; and Allen Samuel, 29, director of Aprikiwi Solutions in Alandur, Kancheepuram.
“One of the shell companies received Rs 115 crore in its bank account, of which Rs 110 crore was transferred to another account in Mumbai, and later sent to Singapore. Another shell company received around Rs 58 crore, of which Rs 50 crore was channelled to China and Singapore,” said a source.
Suspects arranged over 470 mule accounts by paying Rs 5,000 for each
Last February, ED had registered a case of money laundering based on multiple FIRs lodged at various police stations in Kerala by victims of the bogus loan apps.
Soon after, the central agency it raided the house of Raphael James Rozario, a Vypeen resident who allegedly made available mule bank accounts for depositing the money from the scam victims.
The accounts were opened by people in urgent need of money at the behest of Raphael who offered them a few thousand as commission in return for the account details.
As per the ED officials, the money was later parked in accounts of shell companies operated by the arrested persons, before being transferred to accounts in Singapore, said officials.
The ED said various Chinese loan apps in APK format (installation file) are being circulated on social media. The operators run advertisements promising easy loans, and those approaching them are given the links to download the APK file and install the loan app. Once installed, the app accesses crucial user data.
The ED probe also found that several bogus gambling and investment apps linked to mule bank accounts were opened in India with Raphael’s help. It found that Raphael arranged the mule accounts with the help of Nitin Varghese and Afreed K Y, both Keralites and suspects in the ED probe. Initially, the account details were given to Sayid Muhammad, also a Keralite. They were later submitted digitally via the website www.aplhatakpolymer.in.
The suspects arranged over 470 mule accounts by paying Rs 5,000 for each. Some accounts were procured by paying Rs 1,200 a week for eight months. Sayid had told the sleuths that the account details, including ATM card number and PIN, were also handed over to a woman named Leena who contacted him online. More details about Leena were not available.
The accused were produced in a special court in Kochi on Friday, which granted the agency their custody for four days. They will be produced in court again on Monday.