Director of nine companies held in loan app fraud
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The 27-year-old Chinnabba Rajashekar, who hails from Andhra Pradesh’s Chittoor district and works in Bengaluru.
Continuing their probe into the alleged monetary fraud by the app-based loan app companies, Hyderabad Cyber Crime police on Thursday arrested the director of nine such companies based mostly out of Bengaluru.
The 27-year-old Chinnabba Rajashekar, who hails from Andhra Pradesh’s Chittoor district and works in Karnataka State capital.
He was the administrators of Yunwei Technologies Private Limited,Satime Technologies Private Limited, Reusing Technologies Private Limited, Pregla Fintech Private Limited, One Libra Financial Services Private Limited, Naqiful Technologies Private Limited,Aojing Technologies Private Limited, Heiseqian Technologies Private Limited and Feng Fintech Services Private Limited that are linked to cash lending apps particularly Snapit, okay money, Mybank, Cash bee, Rupee manufacturing unit, bubble loan, go money and many others., stated Joint Commissioner of Police (Detective Department) Avinash Mohanty.
He stated that to date they’ve arrested 21 individuals together with a Chinese nationwide Zhu Wei alias Lambo and K. Nagaraju, Singi Madhu Babu and Palle Jeevana Jyothi.
During additional investigation, police recognized numerous financial institution accounts related to the fraudsters and froze about Rs 300 Crore, Mr.Mohanty stated.
“Efforts are being made to arrest the absconding accused persons who played a key role in this multicrore financial fraud,”the officer stated.
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