The cyber crime police station, Cyberabad has registered eight cases against these loan applications.
Rangareddy (Telangana):
A Chinese citizen and three gang members have been arrested in an instant loan application fraud case on Cyberabad.
The Cyber Crime Police, Cyberabad, raided a call center called “Cubevo Technology Private Limited” (Skyline) located in the city headed by a Chinese citizen and arrested four members, including another Chinese citizen.
According to the police, its head office is located in Delhi called “Skyline Innovations Technologies India Private Limited” which is registered with ROC, Gurgaon and its directors are Zixia Zhang and Umapati Ajay and they developed 11 instant loan applications that offer loans to individuals and charge large repayments (including interest, processing fees, GST, default fees, and once the loan period is over, they charge a 1% penalty) and also resort to systematic abuse, harassment, and threats from defaulters through the call centers run by them. They even blackmail borrowers by sending false legal notices to their relatives and family members.
Recently, the Cyber Crimes Police Station, Cyberabad has registered eight cases against these loan applications and has been 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 Google and downloaded the Instant Loan App and loaded the Aadhaar card, PAN card, self-authentication photo, bank of three months statement, and took a loan of Rs 2,015 for 7 days and after deducting the amount of Rs 415 for GST and processing fee, they disbursed Rs 1600 as loan amount on 08-25-2020, after that received calls from different mobile numbers advised to take an instant loan of their applications.
The police have seized two laptops, four cell phones and Rs 2 crore.
Following his advice, he took a total loan of Rs 1,20,000 from 28 applications for instant loans. Although he paid the loan amount of Rs 2,00,000 with interest, he received calls from different mobile numbers and the callers started making abusive and threatening calls and also blackmailed him into sending legal notices. Therefore, he requested to take the necessary measures. On the basis of the above complaint, a case has been registered.
Defendant Zixia Zhang, a Chinese national, and Umapati Ajay are on the run. While Yi Bai Dennis, Chinese citizen, resident of Delhi, native of Jiangxi, Shanghai, southwestern China, Satya Pal Khyalia, resident of Delhi native of Sikhar district, Rajasthan, Aniriddh Malhotra, resident of Hyderabad, native of Rajasthan, and Murathoti Richie Hemanth Seth, a resident of Hyderabad, a native of Kadapa, Andhra Pradesh, has been 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 in their 20s and 40s with high interest rates. Then in the month of December 2019, Zixia Zhang together with Umapati initially established a company called Digipeergo Tech Pvt Ltd and then they established Sky Line Innovation Technology India Private Limited and offered loans through the above mentioned applications.
To get repayments from loan borrowers, they have established four more call centers in various parts of the country. Below is the list of call centers operating in various 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 applications are developed in such a way that by installing these applications they gain access to contacts, mobile information and other data on the device. These apps collect the ID proofs, PAN card, KYC documents, bank account details from customers.
They verify the authenticity of the documents and disburse small amounts in the form of loans to their bank accounts debiting the processing fees and GST, that is, 25-30% in advance. There will be two categories of loan period 1) 7 days and 2) 15 days. After the expiration date is completed, the customer is placed on a wish list (S-0, S-1, S-2, S-3, M2, M3, X, etc.). The smaller the cube the borrower is in, the less the abusive treatment, and the abuse and harassment increase with the larger cube.
They abuse customers with obscene language and threaten them with dire consequences. They even go to the extreme of accessing customer contacts from their phone and begin to abuse and threaten relatives, relatives and friends with calls and messages.
Other scammers have set up call centers in different parts of South India where phone callers make calls to customers that are categorized into different groups and ask for huge refunds in an abusive and threatening way. They also blackmail innocents by sending false legal notices. The callers also suggest that victims make repayments by borrowing from their other loan applications. The client falls into his trap by taking loans on the other loan applications as suggested by the callers who end up paying huge amounts and trapped in an endless cycle.
So far in the investigation, it is clear whether these apps are connected to any NBFC or not. The police have seized two laptops, four cell phones and Rs 2 crore.
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