3 more detained for loan app fraud in Chandigarh : The Tribune India
Chandigarh, October 4
UT police have arrested three other suspects in the instant loan app fraud case. The suspects are Madhukar Dubey (38) and Rajesh Mathur (40), both residents of Ghaziabad, and C Chinnasamy Sellappan from Dindigul in Tamil Nadu.
A sum of Rs 17.31 lakh allegedly made by deceiving people has been recovered from those arrested. Additionally, 20 bank accounts containing Rs 60 lakh were frozen. Additionally, 41 cell phones and nine laptops were recovered from the suspects.
Police said analyzes of the flow of money to different bank accounts/UPI IDs suggested that the amount was transferred to bogus bank accounts of fictitious/fake companies run by the suspects. The police also uncovered pan-Indian money laundering and hawala operations by the suspects.
Investigations revealed that the suspects were taking advantage of TPS through several transactions in different fictitious/fake companies.
“We are writing to the relevant department for further investigation. The suspicious role of some bank officials/managers has also been highlighted and we will verify this,” an official said.
Additionally, notices have been sent to some companies/businesses, allegedly involved in the flow of ill-gotten money, to join the investigation.
On September 12, the UT Police Cyber Crime Cell claimed to have arrested 21 gang members, including a Chinese national living illegally in India, for duping people under the guise of providing them with an instant online loan and extort money.
The modus operandi was to offer victims an instant loan via SMS or FB. Once you clicked on the link, the “Hugo Loan” app installed, giving the suspects access to the victims’ contacts and gallery. A small loan amount has been deposited into the account. Even though the money was refunded, threatening calls were made asking for more money or tweaked photos were shared with contacts.
pan indian scam
29 out of 60 suspects detained of six states
1,578 links found across the country
89 FIRs filed across the country so far
Party under the radar
Chairman of the Bhartiya Rajnitik Vikalp (BRVP) party was invited to join the investigation because a certain sum had been transferred from suspicious bank accounts to the party’s account.
2 of them hawala operators
- Madhukar Dubey transferred Rs 30-40 cr to shell companies via hawala
- Rajesh Mathur has managed Rs 40-50 cr hawala transactions in 2-3 years
- Rs 15 cr was transferred to the account of C Chinnasamy Sellappan