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Chinese national and 3 others arrested for loan app fraud in Telangana


A Chinese national and three gang members have been arrested in an instant loan app fraud case in Cyberabad.

Cyberabad Cybercrime Police raided a call center named “Cubevo Technology Private Limited” (Skyline) located in the city run by a Chinese national and arrested four members including another Chinese national.

According to the police, its head office is located in Delhi as “Skyline Innovations Technologies India Private Limited” which is registered in ROC, Gurgaon and its directors are Zixia Zhang and [email protected] and they have developed 11 instant loan applications which offer loans to individuals and collect huge refunds (including interest, processing fees, GST, default fees and after the loan period is over they charge a 1% penalty) and also resort to systematic abuse, harassment and threats of defaulters through call centers run by them. They even blackmail borrowers by sending fake legal notices to their relatives and family members.

Recently, Cyberabad Cybercrime Police Station registered eight cases against such loan applications and were investigated.

According to the police, on December 17, a complaint was received from a person in which he stated that due to his financial needs he searched in Google and downloaded the instant loan app and downloaded a map Aadhaar, a PAN card, a self-authentication photo, a bank of three months. declaration and took a loan of Rs 2015 for 7 days and after deducting the amount of Rs 415 for GST and processing fee they disbursed Rs 1600 as loan amount on 25-08-2020, after that he received calls from different mobile numbers and advised to get instant loan from their apps.

On their advice, he took out a total loan of Rs 1.20,000 out of 28 instant loan applications. Even though he paid the loan amount of Rs 2,00,000 with interest, he received calls from different mobile numbers and callers started making abusive and threatening calls and also blackmailed him to he sends legal opinions. Therefore, he asked to take the necessary measures. Based on the above complaint, a case has been registered.

The accused Zixia Zhang, a Chinese national and Umapati @ Ajay are on the run. While Yi Bai @ Dennis, a Chinese national, residing in Delhi, originally from Jiangxi, Shanghai, South West China, Satya Pal Khyalia, residing in Delhi, originally from Sikhar district, Rajasthan, riddh Malhotra, residing in Hyderabad, originally of Rajasthan, and Hyderabad resident Murathoti Richie Hemanth Seth from Kadapa, Andhra Pradesh was arrested.

The list of loan applications are Loan Gram, Cash Train, Cash Bus, AAA Cash, Super Cash, Mint Cash, Happy Cash, Loan Card, Repay One, Money Box, Monkey box, etc.

Zixia Zhang, with the help of her Singapore-based company, developed 11 instant loan applications offering loans to people between the ages of 20 and 40 with high interest rates. Then, in the month of December 2019, Zixia Zhang and Umapati initially set up a company called Digipeergo Tech Pvt Ltd and then set up Sky Line Innovation Technology India Private Limited and offered loans through the apps mentioned above.

To obtain repayments from borrowers, they set up four other call centers in various parts of the country. Here is the list of call centers operating in different cities. Topfun Technologies Pvt Ltd, registered in Goa and office located in Gurgaon. Fasmate Technology Services Pvt ltd, office located in Gurgaon. Cubevo Technology Private Limited, office located in Hyderabad and Best Shine Technology Private limited, office located in Hyderabad.

These apps are developed in such a way that while installing these apps, they get the access to the contacts, mobile information and other data of the device. These applications collect ID credentials, PAN card, KYC documents, bank details of customers.

They verify the authenticity of the documents and disburse small amounts as a loan to their bank accounts by debiting the processing fee and GST i.e. 25-30% in advance. There will be two categories of loan duration 1) 7 days and 2) 15 days. At the end of the due date, the customer is placed in a bucket list (S-0, S-1, S-2, S-3, M2, M3, X etc.,). The smaller the bucket the lent is in, the less abusive treatment there is and the abuse and harassment increases with the larger bucket.

They insult customers in foul language and threaten them with dire consequences. They even go so far as to access customer contacts from their phones and start abusing and threatening family members, relatives and friends with calls and messages.

Other scammers have set up call centers in different parts of South India where callers call customers categorized in different compartments and demand huge refunds in an abusive and threatening manner. They also blackmail innocent people by sending fake legal notices. The callers also suggest that the victims make the repayments by taking a loan from their other loan applications. The client falls into their trap by taking loans from other loan applications as suggested by the callers and ends up paying huge sums and stuck in an endless cycle.

So far in the investigation, it is not clear whether these applications are connected to an NBFC or not. Police seized two laptops, four mobile phones and Rs 2 crore.

(With ANI entries)

Disclaimer: This post was auto-published from an agency feed without any text editing and has not been reviewed by an editor

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