EOW arrests two more fraudsters in illegal loan application case
Bhubaneshwar: The Economic Offenses Wing (EOW) of Odisha has arrested two more fraudsters for their involvement in the illegal loan application case.
According to reports, Rakshith and Sushanth from Udupi district in Karnataka were arrested by EOW Bhubaneswar in EOW PS Case No. 9 dated 21.04.2022 U/s 294/506/507/420/467/ 468/120-B IPC & 66 D of the IT law, 2000.
Both Rakshith and Sushanth are directors of companies – Mudmate Technologies Private Limited, Yellow Tune Technologies Private Limited and Pinkleaf Aryan Communications Private Limited. They will be produced today in the SDJM court in Bhubaneswar.
Rakshith and Sushanth being the directors of the above companies in collusion with others, they were facilitating the illegal loan transaction and the process of recovering the loans given through illegal digital loan apps like KOKO, JOJO and many other apps. They were doing this in connivance and collaboration with many other shell companies like IWT-India etc. They also ran a Bangalore call center that used to make threatening and humiliating calls and massages to loan victims and their contacts.
Both are said to have leaked a lot of important information that gives clues to a very complex and well-organized racket, the details of which are under investigation.
Earlier accused Md. Javed Saifi the owner of IWT-India and Sri Tarun Kumar Dudeja the owner of Digital Batua and other shady companies/Shell were arrested in this case and an amount of around Rs 6.57 Crore lying in the accounts of M/s Mahagram Payment Pvt. ltd. was frozen.
In addition, a total of 41 post-paid JIO SIM cards in the names of various people to be used in mule accounts were seized from Tarun Kumar Dudeja. As many as 1058 virtual accounts belonging to Mahagram Payments used to run the scam have been frozen.
Also accused Ram Shriram Pathade, managing director of Mahagram Payments Pvt. Ltd, a resident of Sonam Heights in Mumbai was arrested at Indira Gandhi International Airport in New Delhi on May 25, 2022.
Apart from arresting the defendants, Odisha Police demanded Google to remove/remove the illegal lending apps from their Play Store. The Reserve Bank of India (RBI) has also been urged to take strict action against such illegal loan apps.