Hyderabad: ED books money laundering case in instant loan app fraud
The Enforcement Directorate has booked money laundering case in instant loan app cases registered by the police until now.
The Enforcement Directorate has booked money laundering case in instant loan app cases registered by the police until now. The ED took the FIRs registered by the police against Chinese nationals and local people who involved in the loan app fraud.
The ED officials are said to be collecting the details from the 27 FIRs booked by the Telangana police.
According to the ED, the instant loan app fraud is believed to be having huge implication on where the money will have been concealed in abroad. In one of the loan app fraud cases, it is showed 1.4 crore transactions worth around Rs 21,000 crore that are carried from seven call centers across the country including Hyderabad, Gurugram, Bengaluru.
So far, the police have arrested four Chinese nationals of which, three of them -- Yi Bai, Liang TianTian and Zheu Wei are involved in the loan app scam while another Yah Hao who was arrested in August for online gambling in which a large number of Indians lost crores of money.