2 in 4 Chinese detained for operating an instant loan app: Chennai police

Chennai: Two Chinese nationals and as many Indian nationals have been arrested for allegedly operating instant loan applications, police said on Saturday. The investigation, based on a complaint here, found that the main defendant was operating from China, police said.

The two Indians operated the call center from Bangalore and had employed more than 100 people to provide quick online loans, they said. Each employee had been asked to authorize instant loans to at least 10 people in a week and threatened with dismissal if they didn’t, police said.

The Chinese nationals ran the call center with the help of the two Indians. All were arrested in Bengaluru on December 31, 2020 and January 1, 2021, according to Chennai Police Commissioner Mahesh Kumar Aggarwal.

The arrest was made following Ganesan’s complaint that he had suffered agony, abuse, threats and harassment from online loan application companies for repayment with a higher interest rate, the commissioner said in a press release.

It was also revealed that another Chinese national was the head of the call center and was operating from China, the statement said. “We are investigating whether the Chinese are running loan applications targeting only India “, added the Commissioner.

In recent times, there have been numerous cases of app-based money lenders harassing borrowers for repayment which has led to suicides.

This story was posted from an agency feed with no text editing. Only the title has been changed.

To subscribe to Mint newsletters

* Enter a valid email address

* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint. Download our app now !!

About Arla Lacy

Check Also

Alabama Small Businesses Can Apply For SBA COVID-19 Disaster Loans

the SBA program will help qualified businesses and nonprofits recover from the economic losses associated …