City police file indictment in loan enforcement case
Providing / offering loans illegally, charging exorbitant interest rates, harassing borrowers for collection and identity theft were some of the crucial findings forming part of the indictment filed by the police from the Hyderabad’s recent cybercrime in alleged multicrore financial fraud involving the application -based instant loan companies.
Investigators also referred to the six victims of loan-application companies who committed suicide in the state.
Talk to The Hindu, a senior police officer associated with the investigation of the case said the Central Forensic Science Laboratory final report is still pending, they have expedited the process of filing the indictment to prevent the accused to obtain a bond.
Of the approximately 21 accused people arrested by the city police, with the exception of Zhu Wei aka Lambo from Jiangxi, China, all the others were released on bail.
They also mentioned the names of some of the fugitives, including Yuan Yuan alias Jennifer.
“Certainly, we were in a hurry to file the indictment because we don’t want the main defendant Zhu Wei to be released on bail,” he said, adding that Zhu Wei was the key person behind the operations. several loan application companies. in India.
He said shortly after receiving the detailed and final CFSL report, police would file a bunch of consolidated indictments. “We need to know what’s in the laptops of Zhu Wei and other defendants, before we file the main indictment.
The process has slowed down due to COVID-19, ”the officer said, adding that a technical scientist analyzing technical evidence submitted by them was on leave.
In the indictment, police also mentioned that the money first went to Virgo Island and from there to Shanghai, China, to prove the role of China-based companies in the fraud. They also mentioned that companies are using call spoofing technology in their call centers to contact borrowers.
During the last week of December, police brought in financial experts and data analysts to analyze big data pertaining to more than 1.50 crore in loan transactions involving nearly 21,000 crore, at the except cryptocurrency.