Hyderabad Police Bust Loan App Fraud Run By Chinese National, Two Arrested | Mint – Mint

Wealthlandnews May 13, 2022
Updated 2022/05/13 at 9:53 AM
  • The Hyderabad Police have busted a fraud case related to a loan app run by a Chinese national in Bengaluru
  • The police have arrested two accused identified as Shabbir Alam (36) and Umakant Yadav (30), both residents of Karnataka

The Hyderabad Police have busted a fraud case related to a loan app run by a Chinese national in Bengaluru. The police have arrested two accused identified as Shabbir Alam (36) and Umakant Yadav (30), both residents of Karnataka. According to the statement by the Hyderabad Police, the duo ran a call centre in Bengaluru and offered loans through six loan applications under the supervision of Chinese nationals.
They were running a call centre at Koramangala, Bangalore in the name of Sky links Technology Pvt Ltd and were operating the following loan application–Ocean Rupee, Life Wallet, Maloo Wallet, Elephant Cash, Box Cash, and Dutta Rupee under the supervision of Chen Chaoping. The police said Chaoping is currently in China.
“The apps are hosted in Google Play Store when the innocent people download the app, permissions for a gallery, contact list and locations are obtained by the app required for providing loan for a short period after which the victims have to pay very huge interest. When the victims are incapable of repaying the loan amounts, accused persons post their photos on social media platforms by morphing their photos, and threatening calls are also made,” the cops said in a statement.
According to a statement by the Joint Commissioner of Hyderabad Police, on December 20 last year they received a complaint from a 30-year-old lady from Rethibowli in which she said that she took the loan of 2 lakh from apps available on the Google Play Store. After seven days, when the lady failed to repay the loan, she started receiving threats and harassment from different WhatsApp numbers.  The lenders abused her in vulgar language and threatened her. The police said the woman had borrowed the money from–Creditbus, Clear loan (Dynamic loan, pocket borrow, easy credit, Finfarm, swift rupee, rupee now, credit sttar), Credit King, ecpress loan, Money Stand, Infinity Cash, Ccash bee, APna Paisa, Quality cash among others. 
Police found out that in 2020, Chen operated the same call centre in Bengaluru in the name of Golden Bag Technologies Pvt Ltd at Bangalore. At that time, the present accused Shabbir Alam worked as Supervisor and Umakanth Yadav worked as IT Manager in the above call centre. In 2020, the Chinese national went to China suspecting arrests by Police, closing down the call centre.
After some arrests were made by the Bengaluru Cyber Crime Police in December 2020 and January 2021, Chen fled to China and closed the call entre.
After two months, the Chinese national again contacted the accused Shabbir Alam and Umakanth Yadav and instructed them to run the call centre by introducing new loan apps viz., 1) Ocean Rupee, 2) Life Wallet, 3) Maloo Wallet, 4) Elephant cash, 5) Box Cash and 6) Dutta Rupee (whole apps were designed by Mr. Chen Chaoping). Based on the instructions of Mr. Chen Chaoping accused hired about 100 tele-callers and opened a new call centre at Koramangala, Bangalore, and trained the tele-callers how to extort the money from the victims in all possible ways.
Based on the complaint, the police arrested the two officials and seized 29 mobile phones and 73 laptops, among others.
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