One more Chinese detained in online loan fraud

A Chinese national who tried to flee the country has been arrested by Hyderabad police at Delhi airport in connection with loan fraud via apps.

The accused, Zhu Wei (27), aka Lambo, is from Jiangxi, China and was the COO of Aglow Technologies Pvt. Ltd, Liufang Technologies Pvt. Ltd., Nabloom Technologies Pvt. Ltd., and Pinprint Technologies Pvt. Ltd., all instant loan application companies, said Shikha Goel, Additional Police Commissioner (Crimes and SIT).

She said a cybercrime police team intercepted Zhu Wei at Indira Gandhi International Airport in Delhi. A K. Nagaraju from Kurnool, who played a key role in the operation of the call centers, was also arrested.

A preliminary investigation into financial transactions revealed that nearly 1.4 crore worth of transactions worth 21,000 crore has so far taken place through these app-based lending companies, Ms. Goel.

“These transaction volumes have taken place through payment gateways and bank accounts linked to these companies and a large number of international transactions have also taken place through bitcoins,” she said, adding that most of the transactions had taken place within the past six months.

Questioning of the arrested employee revealed that another Chinese national Yuan Yuan aka Sissi aka Jennifer was the person who set up operations in India and is currently overseas, the officer said.

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