Posted: Posted Date – 8:47 PM, Sat – 30 Jan 21
Hyderabad: Hyderabad cybercrime police on Saturday arrested four people, including directors of two finance companies in Bengaluru, for lending instant loans and harassing customers.
Those arrested were Niranjan Umapathy, director of Water Elephant Financial Services Pvt Limited and Beadwallet Technologies Pvt Ltd; Yeshi Gyatso, Director of Beadwallet Technologies Pvt Ltd; and Nyichak Dhondup and Usha BM, also directors of Water Elephant Financial Services Pvt Ltd.
Police say the suspects ran finance companies and lured customers with instant loans, then resorted to harassment to get repayments. One of these victims approached the police and lodged a complaint, following which a case was registered and an investigation was opened.
Some of the instant loan apps from which the suspects made loans included Flash Rupee, Smile Loan, Vulcan Loan, Shubh Cash, Apna Loan, Loki Loan, Tiger Cash, Lion Loan, Vulcan Loan, Rupeebar, Easycredit Cashmore, Cashbull, Topcredit, Marsloan and Instacoin.
“They have established call centers in Koramangala in Bengaluru and provided instant loans through apps. They then harassed the debtors by making calls using virtual applications, in addition to the usual mobile phone numbers, with the help of around 200 callers,” said Avinash Mohanty, Deputy Commissioner of Police, CCS.
From the investigation conducted so far, it has been discovered that two Chinese nationals, Cheen Wu, the CEO and Andy Lu Wenjie, Vice President of the companies, were involved in the operation. Efforts are underway to catch them, he said.
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