The Cyberabad Police on Friday announced the arrest of four persons, including a Chinese national, for their involvement in the app-based money lending cases.
According to the police, the accused are Yi Bai alias Denis, the Chinese citizen, Satyapal Kyalia, a resident of Delhi who hails from Rajasthan -- Aniridh Malhotra and Murathoti Richie Hemanth Seth, both residents of Hyderabad.
Two others, identified as Umapati alias Ajay and Zixa Zhang, another Chinese national, are said to be absconding.
Cyberabad Police Commissioner V C Sajjanar said that police raided a Cubevo Technology Private Limited, a call centre.
The arrests were made after this raid.
Police said that Cubevo has its head office by the name Skyline Innovations Technologies India Private Limited, in Delhi. Its directors, the accused Umapati and Zixa Zhang developed 11 instant apps which provide loans to applicants and allegedly collect large sums as interest payments, processing charges, GST, and default charges.
The duo allegedly established Digipeergo Tech Pvt Limited in December 2019, and later incorporated Skyline Innovation Technology India Pvt Ltd. In order to collect repayment on loans, they allegedly took the services of four other call centres in the country which include Topfun Technologies Pvt Ltd registered in Goa, Fasmate Technologies Pvt Ltd in Gurugram, Cubevo Technologies Pvt Ltd in Hyderabad and Best Shine Technology Pvt Ltd, also in Hyderabad.
The investigation thus far has revealed that the companies floated by the accused are not associated with any non-banking financial companies.
