Previously, the Bureau of Immigration (BOI) issued lookouts against Liu Yi in connection with the loan application fraud Koko and Shen Zhenhua alias Tony, Quan Hongwei alias Paul and Yang Haiying aka Doris for their alleged involvement in the Kredit Gold scam.
“While Yi is believed to have been involved in the operation of the app in China, Tony, Paul and Doris have used a similar modus operandi in Indonesia, Sri Lanka, Pakistan, Nepal and Bangladesh. They are expanding their financial criminal network in African and West Asian countries.They are operating in India in collusion with many shell companies.We can seek help from Interpol through the CBI,” EOW Deputy Inspector General JN Pankaj said.
After granting instant loans, the accused pressured the loanees to repay the money at an exorbitant rate of interest. They would continue to up the ante and start sending abusive messages to loanees’ contacts. Some victims reportedly committed suicide in some states.
The EOW has so far arrested five people – Mohammad Javed Saifi (from Ghaziabad), Tarun Dudeja (Gurgaon), Ram Shriram Pathade (Mumbai), Rakshith and Sushanth (both from Karnataka) in connection with the money fraud. Koko loan application and a Nitin Mallik under the Kredit Gold scam. The agency said the defendants were hired by the group of Chinese nationals and colluded with them to deceive people in different states.
Since the EOW successfully arrested several defendants in the loan application fraud cases, police in other states have begun to call on the former to solve similar cases in their jurisdictions. “So far we have been approached by police from Mumbai and Kolkata. They might come here soon and request the remand of the accused for questioning,” another EOW official said.