A preliminary investigation found that the apps were run by Chinese citizens with servers based in China. In addition to deducting nearly a third of the loan in advance, racketeers have charged exorbitant interest rates and harassed borrowers by hacking into their phones. They have also formed WhatsApp groups by adding their customers’ contacts and posting slanderous content against them.
Last week, the CCB and CID had recorded more than five cases involving snowshoeing. The CID had raided four businesses and arrested two people. Intelligence Bureau officials have now joined the investigation. Of the four businesses raided, three were run by Chinese citizens.
Police Co-Commissioner (Crime) Sandeep Patil said: “So far we have arrested three men from the town. We have specific clues and evidence against two Chinese people involved in the alleged racketeering. We will stop them soon.
On Sunday, CCB detectives raided Acepearl Services Ltd with an office in Koramangala VII Block and arrested Syed Ahmed, 33, of Shamanna Garden in Hosaguddadahalli, Syed Irfan, 26, of EWS Colony, BTM Layout II Stage and Aditya Senapati, 25, of Ramagondanahalli in Varthur Kodi. CCB police said the accused used seven apps owned by Chinese citizens.
“During the raid, it was discovered that other companies specializing in instant loans via apps – Higeki service Pvt ltd, Eceedwell Service Pvt Ltd, Mascotstar Sevice Pvt Ltd and Aqua Service Pvt Ltd – were also working on the same premises. “said an investigator. .
Further investigation revealed that the accused shared customer data with companies running apps such as Money Day, Paisa Pay, Loan Time, Rupee Day, Rupee Kart and In cash. Call center staff, contracted out by these companies, contacted customers. “The main defendant Syed Ahmed mainly targeted the victims and ordered Irfan and Senapati to harass them so that they could get more interest on the loans,” police said.
“The laptops and smartphones used by the trio will give us more information about the racket. They deleted a lot of messages and voice recordings. However, we will get them back soon, ”said a senior investigating officer.