Crime News National Telangana

Instant Loan App Fraud: Hyderabad Police Arrests one Another person

Hyderabad: Another person was arrested by the Hyderabad Cyber ​​Crime Police on Thursday in the instant online loan fraud case. So far 21 people, including a Chinese citizen, Zhu Wei alias Lambo, were arrested in the case.

The person arrested on Thursday was identified as Chinnabba Rajashekhar 27 years old of Mahadevapura, Bengaluru, who is a director of nine companies including yunwei Technologies Private Limited, Satime Technologies Private Limited, One Libra Financial Services, Naqiful Technologies, Aojing Technologies, All of which the police said were related to money lending apps such as Snapit, OK Cash, Mybank, Cashbee, Rupee Factory, Bubble Loan etc.
K. Nagaraju, Singhi Madhu Babu and Palle Jeevana Jyothi and others, who were holding key positions in companies linked to the instant loan app, were among those arrested by the Hyderabad police earlier after the scam broke out five months ago after the scam surfaced.

So far, Rs. 300 crore fraud found in different bank accounts Avinash Mohanty, Joint Commissioner, Detective Department said that further investigation is going on.

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