Hyderabad: Hyderabad cybercrime police arrested four people, including directors of two Bengaluru finance companies, for lending instant loans and harassing clients on Saturday.
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 were running finance companies and luring clients with instant loans, then resorting to harassment for repayments. One of these victims approached the police and lodged a complaint, after which a case was closed and an investigation was opened.
Some of the instant loan apps that the suspects granted loans from 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 established call centers in Koramangala in Bengaluru and provided instant loans through apps. They then harassed debtors by making calls using virtual apps, in addition to regular mobile phone numbers with the help of around 200 callers, ”said Avinash Mohanty, Joint Police Commissioner, CCS.
The investigation so far has revealed that two Chinese nationals, Cheen Wu, the CEO and Andy Lu Wenjie, vice president of enterprises, were involved in the operation. Efforts are underway to catch them, he said.
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