Soon the Clubbed accusation sheets in a loan application fraud case: police
Hyderabad Cybercrime Police are poised to file bludgeoning indictment sheets in alleged multi-crore financial fraud involving app-based instant loan companies.
The alleged fraud was perpetrated by a Chinese national and his associates based in Gurugram.
Talk to The Hindu, an officer, who is aware of the developments, said the investigation was over and there were specific leads connecting the alleged role of the accused, which had far-reaching consequences.
However, it appears that investigators were unable to trace the trail of the money involving the foreign nationals based in China, Singapore, Vietnam and Malaysia.
At first instance, the police pursued the trail to link the alleged recipients at said foreign locations, but that did not lead to conclusive evidence, officers said. “We know that the money was funneled to several Asian countries, but we don’t know whether the companies got investments from outside the country or not,” he said.
Police had deployed Zhu Wei aka Lambo from Jiangxi, China, and Nagaraju from Kurnool, as accused among the 22 others. Police have filed 27 cases against 22 people, including BK Kalappa (24), who was arrested on Wednesday. “Documentation work is underway. The clubbed indictments (each consisting of three cases) will be filed within a fortnight with a local court, ”the officer said.
While in custody a few weeks ago, Zhu Wei revealed that Yuan Yuan alias Jennifer, currently at large, had given him the task of operations in India and he knows nothing beyond that. He was picked up from Delhi airport as he tried to flee India in December and police were forced to search for interpreters as Zhu Wei claimed he only knew Mandarin and spoke English. approximate.
“We have enough technical evidence to prove his role and that of others in the financial fraud, which claimed the lives of at least seven people in the state,” police said. App-based instant loan companies lent money at a high interest rate and harassed defaulters through coercive methods.
During the last week of December, police brought in financial experts and data analysts to analyze big data regarding more than 1.50 crore in loan transactions involving nearly 21,000 crore, to l except for cryptocurrency.
Meanwhile, Cyberabad Cyber Crime Police said they will take time to complete the alleged fraud investigation and file charges. “So far we have no clarity on the money route. The probe is still ongoing, ”said an officer.