New Delhi: The Enforcement Directorate on Friday said it has arrested four men as part of a money laundering investigation linked to a Chinese-controlled loan app “scam” in which various people were allegedly cheated.
The federal agency said in a statement that its probe found that “on the instructions” of a Singaporean citizen, all the suspects played a “key role” in the integration of the proceeds of crime to the tune of Rs 230.92 crore, generated through fake loan apps (mobile applications), and collected in more than 400 mule accounts across the country.
These funds were then transferred to Singapore through companies controlled by them (arrested accused), the ED said.
The money laundering case stems from 11 police FIRs filed by victims in Kerala and Haryana complaining that they were “extorted” in the name of loan facilitation and/or “blackmail” for excess re-payment.
The agency had conducted searches in this case in February last year and frozen bank deposits worth more than Rs 123 crore.
“The loan app operators used to blackmail (the users) using the private data hacked from mobile phones of victims while installing their loan app.”
“It was found that such extorted proceeds were routed through various bank accounts of shell entities and ultimately remitted outside India in the guise of fake import of software/digital services/tour services through normal banking channels and through Nium India Pvt. Ltd. (a global remittance facilitating company), a wholly owned subsidiary of Nium Pte Ltd. of Singapore,” the ED said.
The four persons, arrested on Thursday by the Kochi office of the agency, are Daniel Selvakumar, Director of Xoduz Solutions Pvt. Ltd. and operator of Tyrannus Technology Pvt. Ltd., Allen Samuel, Director of Aprikiwi Solutions Pvt. Ltd., Anto Paul Prakash, proprietor of Global Expositions and Infomedia Solutions and the Director of Sozo Technology Pvt. Ltd. and Kathiravan Ravi, Director of Future Vision Media Solutions Pvt. Ltd.
The accused “misused” the channel of Nium India Pvt. Ltd., a global remittance company, it said.
The ED said “major lapses” were found on the part of the company (Nium India Pvt. Ltd.) in the remittance of Rs 1,677 crore worth of funds.
