No clarity on the money route so far, say Cyberabad Cyber Crime police
The Cyber Crime police of Hyderabad is all set to file clubbed chargesheets in the multi-crore alleged financial fraud involving app-based instant loan companies.
The alleged fraud was perpetrated by a Chinese national and his associates based in Gurugram.
Speaking to The Hindu, an officer, who is in the know of developments, said that the probe had come to an end and there were definite leads linking up the alleged role of the accused, which had far-reaching consequences.
However, it appears the investigators were unable to trace the money trail involving the foreign nationals based in China, Singapore, Vietnam and Malaysia.
At first instance, the police pursued the lead to link up the alleged recipients in the said foreign locations, but that did not take them to conclusive evidence, said the officers. “We know that the money was channelled to several Asian countries, but we are not sure whether the companies got investments from outside the country or not,” he said.
Police had arrayed Zhu Wei alias Lambo from Jiangxi, China, and Nagaraju from Kurnool, as accused among the 22 others. Police filed 27 cases against 22 persons, including B.K. Kalappa (24), who was arrested on Wednesday. “The documentation work is on. The clubbed chargesheets (each consisting of three cases) will be filed in a fortnight at a local court,” the officer said.
During his police custody a few weeks ago, Zhu Wei disclosed that Yuan Yuan alias Jennifer, currently at large, had assigned him the task of operations in India and he knows nothing beyond this. He was picked up from Delhi airport while trying to flee India in December and the police were forced to scout for interpreters as Zhu Wei claimed that he knew only Mandarin and spoke broken English.
“We have enough technical evidence to prove his and others’ role in the financial fraud, which claimed the life of at least seven persons in the State,” police said. The app-based instant loan companies were lending money at a high interest rate and harassing defaulters through coercive methods.
In the last week of December, police roped in financial experts and data analysts to go into voluminous data pertaining to more than 1.50 crore loan transactions involving nearly ₹21,000 crore, apart from cryptocurrency.
Meanwhile, Cyberabad Cyber Crime police said that they would take time to complete the investigation into the alleged fraud and file chargesheets. “So far we have no clarity on the money route. The probe is still on,” an officer said.
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