Delhi Police busts Chinese loan app fraud, 8 arrested

The Intelligence Fusion and Strategic Operations (IFSO) unit of the Special Cell of Delhi Police has arrested eight people from Delhi and other parts of the country for allegedly extorting money from people on the pretext of providing and repaying loans. The accused were using Chinese loan applications to give loans and extorting money from people on the pretext of non-payment of loan amount and abusing them.

The IFSC Unit of the Special Cell has so far arrested eight people from Delhi, Jodhpur, Rajasthan, Gurugram, Haryana and other parts of the country. According to the police, the IFSC unit had received a complaint where the complainant had alleged that some unknown person was abusing her and threatening her with morphed pictures and sending her to her family and others.

The complainant has taken loan from the Chinese application. Police said that though he made the payment on time after repaying the said amount, he started receiving threatening and abusive WhatsApp calls and messages from employees of the loan company.

A team of police officers conducted raids in Pitampura and Rohini areas, where accused Rohit Kumar, Vividha Kumar, Puneet and Manish were arrested and mobile numbers and equipment used in the crime were also recovered from their possession. The police arrested Divya, wife of another accused Puneet Kumar, who was later found to be involved in the case.

Police said that during investigation it was found that one of the two teams running the racket used to track the borrowers and a day later used to call the borrowers through different mobile numbers to return the money.

“Even after the refund, the accused used to extort more money from the borrower by threatening him. While the other party of the gang used to do financial transactions. The police said, “Money after converting his masters in China, Hong Kong, Dubai etc into cryptocurrency. All the gang members were getting their share according to their role and their performance.”

DCP IFSC, KPS Malhotra revealed that the complainant received threats from multiple WhatsApp numbers. An alleged WhatsApp contact user was using the picture of a senior IPS officer as a profile picture. Police said the loan app is malicious and uses the user’s personal details to send it to third parties.

The police found that the extorted amount was being transferred to the current account. An amount of Rs 8.45 crore was deposited in the last 15 days and the same was transferred to other accounts simultaneously. Police have identified the account holder as Rohit Kumar.

On March 14, police arrested Ravi Shakar, the group’s mastermind, from Jodhpur, who had provided all bank accounts to an alleged Chinese national.

Police said, “It was further found that the fraudulent amount was being remitted by accused Krishna to China through cryptocurrency. The police identified the crypto accounts of three Chinese nationals involved in the case.”

In another raid conducted in Gurugram, police arrested accused Sumit, who used to call victims through fraudulently obtained WhatsApp numbers. Based on this disclosure of accused Sumit, another accused Karthik Panchal alias Deepak who was the team leader was arrested.

It was further revealed that he was running a team of callers who used to call loan seekers who had taken loans from his app. The police registered a case under sections 384, 385,419, 420 and 120 of the Indian Penal Code.

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