Two, including a Chinese, arrested in Mumbai, Maharashtra, in instant loan application scam by Telangana police

Instant Loan Application Scam: He Jian and Vivek Kumar were arrested in Thane, near Mumbai.


A Chinese and an Indian were arrested today in Thane, near Mumbai, as part of Telangana Police’s ongoing investigation into the instant loan application scam.

With that, at least 31 people, including four Chinese nationals, have been arrested in the multi-crore scam suspected of being exploited by shell companies that lend small amounts for high interest rates and harass them. borrowers who do not repay.

Telangana police arrested He Jian, alias Mark (26) and Vivek Kumar on the basis of a complaint filed by a man whose account was credited with an unsolicited loan and was forced to pay almost double the principal .

Police seized a 28 crore rupee bank account and also recovered a Chinese passport, a CITIC bank debit card issued in China, three stamps from companies they were part of, four laptops, two cell phones, an iPad , a mini Apple CPU and a Wi-Fi router.

Wednesday’s action was based on contributions from three other people, including a Chinese woman, who were arrested in Pune for running a call center that acted as a service provider for loan application companies. based in Mumbai, including those operated by Jian.

Jian arrived in India in July 2019 on a business visa. He is the representative of three Chinese nationals – Xu Nan, Xu Xinchang and Zhao Qiao – who are directors of microcredit application companies. They also appointed a Indian director Ankur Singh Vivek Kumar was an accountant in the cabinet, ”Rachakinda Police Commissioner Mahesh Bhagwat said.

Police are now looking for Ankur Singh, who left the company in November last year, to understand the full scale of the operations.

By issuing a list of dos and don’ts before taking out loans online, police named 24 applications and said they are also pursuing the case with the Ministry of Information and Technology.

“Please do not download microfinance apps without verifying their licenses issued by government authorities, the RBI, or verifying their registration address. Also, never download an app that seeks to access your contacts, files, photo gallery, etc. ”Mr. Bhagwat mentioned.

So far in Telangana alone, at least five people have committed suicide due to coercion after borrowing from instant loan apps. The incidents led police to investigate the multi-crore, multi-city scam, which is also being investigated by the Law Enforcement Branch.

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