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A dozen private loan companies indicted in a fraud case

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Bangalore: A dozen private loan companies accused of cheating

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HIGHLIGHTS

  • A dozen private companies have been indicted for cheating by the cybercrime police.
  • Companies are said to be run by Chinese nationals or companies to trick innocent people into providing instant loans through mobile apps.
  • 10 files were filed and 59 companies were designated as suspects.

bangalore: A dozen private companies have been indicted for cheating by cybercriminality police. Companies are said to be run by Chinese nationals or companies to trick innocent people into providing instant loans through mobile apps.

The complaint was filed by a person named Jayakumar. He is Deputy Registrar of Companies. The case was registered on Wednesday, reported The era of India.

10 cases were recorded by the cybercrime unit between February 28 and April 13. Officials from the Registrar of Companies and the Department of Corporate Affairs filed the complaints. A police officer said that in the 10 cases, 59 companies were designated as suspicious. Chinese nationals or companies would run these companies, showing locals as directors. In many cases, the locals were unaware that they were the directors of the companies.

Suspicious companies that have been named include, Tesupa Pvt LtdZong Pvt Ltd, Pesolo Private LtdMosli Pvt Ltd, Pakola Pvt Ltd, Loscoop Pvt Ltd, Taptica Pvt LtdGooko Pvt Ltd, Menasi Pvt Ltd, Starmex Pvt LtdJolichi Pvt Ltd and Yoomi Ecommerce Allias Adview Technology Pvt Ltd.

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These companies would provide instant short-term loans through mobile apps and then charge customers huge processing fees and exorbitant interest, Jayakumar told police. They also reportedly resort to unethical methods to recover their loans, such as threats and harassment.

The preliminary investigation revealed that these companies were using employee documents without the knowledge of the employees, to appoint them as directors. They also hired staff to operate illegal businesses.

Several people working for these companies were interviewed. The investigation is ongoing.

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