Instant loan App fraud: Four including Chinese National held

Hyderabad, Dec 25 (Agency)

Cyber Crime Police have arrested four persons including a Chinese National on the charges of committing instant loan Application fraud. A police release here on Friday said that the Cyber Crime Police, Cyberabad raided a call center “Cubevo Technology Private Limited” (Skyline) located in the city and headed by a Chinese National and arrested 4 members including a Chinese national.

Its head office is located in Delhi named “Skyline Innovations Technologies India Private Limited” which is registered in ROC, Gurgaon and its Directors are Zixia Zhang & Umapati alias Ajay. They developed 11 Instant Loan applications which offer loans to individuals and collect huge repayments (including interest, processing charges, GST, Default charges and once loan period is over they charge 1 per cent penalty) and also resort to systematic abusing, harassing, threatening of the defaulters through call centres run by them. They even blackmail the borrowers by sending fake legal notices to their relatives and family members.

Recently Cyber Crime Police Station, Cyberabad has registered 8 cases against these instant loan applications and investigated into it. So far in the investigation whether these applications are connected to any NBFC or not is not clear. The applications developed by these companies was involved in various cases registered across the state, the release added.