At least 6 persons have ended their lives from across Telangana in the last few weeks owing to reported harassment and humiliation at the hands of instant loan app companies. Telangana police have already arrested four Chinese nationals in connection with the instant loan app case.
Telangana police arrested another Chinese national in connection with the ongoing probe into the instant online loan apps case. Rachakonda police commissioner Mahesh Bhagwat, addressing the media on Wednesday, said that 26-year-old HE Jian alias Mark, a native of Jiangxi in China, was picked up from Thane in Maharashtra. Jian has been living in India since July 2018 on a business Visa and is a representative of Chinese nationals Xu Nan, Xu Xinchang, and Zhao Qiao. who are the directors of several instant loan app companies that Rachakonda police uncovered after the arrest of another Chinese woman Liang Tian Tian last month.
So far, Telangana police have arrested four Chinese nationals, namely Yi Bai, Zhu Wei alias Lambo, Liang Tian Tian, and He Jian, in connection with the instant loan app case. Liang Tian Tian, who married an Indian in 2013 and has been living in the country since 2016 on a dependent Visa, was found to be managing a call center in Pune that was tasked with the collection of pending loan dues from defaulters. The call center was operating on behalf of companies such as Ajaya Solutions Pvt Ltd, Bienance Information Technology Pvt Ltd, Epoch Go Credit Solutions Pvt. Ltd, Truthigh Finetech Pvt Ltd. and other microfinance loan app companies, all of which were linked to the Chinese nationals, said Bhagwat.
Another accused Vivek Kumar (26), who worked as an accountant with Ajaya Solutions Pvt. Ltd. and Epoch Go Credit Solutions Pvt. Ltd, was also arrested along with HE Jian. Police have frozen Rs 30 crore in their bank accounts.
Police found out that these companies were offering instant microloans through online apps such as Krazy bean, Krazy rupee, Cashplus, Rupee Pro, and 20 others at a very high rate of interest
The modus operandi of all the companies is the same. The police commissioner said that the call center executives are directed to phone defaulters and abuse them in filthy language to harass and humiliate them into paying back the loan amounts. The loan dispensing companies did not have any valid licenses or registration with the RBI to run an NBFC model business based on online applications, said Bhagwat.
At least 6 persons have ended their lives from across Telangana in the last few weeks owing to reported harassment and humiliation at the hands of instant loan app companies. More than 30 persons have been arrested to data in at least 50 cases registered in different police stations of the State.
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