Image used for representative purpose onlyNEW DELHI: Delhi Police had started an investigation into the Chinese loan racket after hundreds of complaints were received at the National Cybercrime Reporting Portal that instant loan applications were disbursing loans at exorbitant rates and forcing people to pay large sums of money even after repayment of the loan. People who’d taken small loans ranging from Rs 5,000 to 10,000 were being forced to repay even in lakhs. Scores of Delhiites were targeted and were left traumatised, with the interest rates rising exponentially every day. When they defaulted on their payments, their friends and families were bombarded with abusive calls. Incidents of people committing suicide have even been reported from other parts of the country, said an officer. The financial trail revealed that multiple accounts were being used to receive money. In each of the accounts, over Rs 1 crore was being credited per day. An extensive analysis of the application code, call details and financial examination was conducted and it was discovered that the network was spread across Delhi, Karnataka, Maharashtra, Uttar Pradesh and other parts of the country. Special teams were formed and raids were conducted. The operation lasted for two months and in all 22 people were arrested from various parts of the country. During interrogation, the accused told cops that they were operating at the behest of Chinese nationals. All the data regarding recoveries was being provided from servers in China. “The analysis has also revealed that the applications were being developed in China. The technical analysis of the financial trail revealed that Chinese nationals were actively involved in these loan application scams. The identities of a few Chinese nationals have been confirmed and efforts are being made to trace and arrest them,” DCP Malhotra added. Eight people were either bank account holders or users. One of the accused used to arrange accounts and another managed activities with Chinese nationals. FOLLOW US ON SOCIAL MEDIAFacebookTwitterInstagramKOO APPYOUTUBE
Source: https://timesofindia.indiatimes.com/city/delhi/delhi-victims-had-to-repay-in-lakhs-for-loans-amounting-to-rs-5000-10000/articleshow/93684309.cms
