Telangana police arrest another Chinese in money lending apps case

The Hyderabad police have arrested a Chinese national, in continuation of its investigation into the app-based money lending companies' fraud and atrocities.

Zhu Wei (Lambo) was intercepted at the New Delhi international airport as he was trying to leave the country. Lambo, 27 years old, is a native of Jiangxi in China.

Another individual K Nagaraju native of Kurnool in Andhra Pradesh, who played a key role in the operation of the call centres, was also arrested.

Hyderabad cops found out that another Chinese named Yuan Yuan @ Sissi @ Jennifer was the person who has set up operations in India. He is presently in abroad.

Lambo was the overall head of operations of the loan apps run by the four companies - Aglow Technologies Pvt. Ltd., Liufang Technologies Pvt. Ltd., Nabloom Technologies Pvt. Ltd., and Pinprint Technologies Pvt. Ltd.

A preliminary investigation into the financial transactions has revealed that close to 1.4 crore transactions worth nearly Rs 21,000 crore have taken place so far.

“These are the volume of transactions which we identified have happened over payment gateways, bank accounts linked to these companies. The figure is not necessarily the loan amounts disbursed to the people,” a senior police official told DH

A large number of international transactions have also happened through bit-coins. The bulk of these transactions took place over the last six months, cops said.

Last week, the Cyberabad police, which is also probing the app loans case, nabbed a Chinese man Yi Bai @ Dennis. Bai is also a native of Jiangxi but associated with another set of companies running the online money lending business.

Telangana police have so far arrested over 20 people in the case, following the death by suicide of at least three victims in the state due to harassment for repayment from the tele-callers of these companies.