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Chinese link established in loan app scams, 4 arrested

Chinese link established in loan app scams, 4 arrested
Agencies
Hyderabad: A month after the Telangana Police began the crackdown on illegal instant loan apps following suicide by five persons the investigation has revealed a deeper Chinese link to the scam. The police have taken into custody at least four Chinese nationals for running the illegal apps. The police after arresting the four are also probing the role of some other Chinese nationals. In the latest incident, Cyberabad police arrested three persons in connection with instant personal loan apps January 22.
Those arrested are Hemanth Kumar Jha, director of Flash Cash Pvt limited, Gurgaon, V Manjunath, HR Manager at Juss IT Technologies Pvt Ltd, Bangalore and Abdul Lauk, Manager/Team leader at TGHY Trust Rock Pvt Ltd. These arrests were made during the investigations into the suicide of one G Chandra Mohan (38). He had taken Rs 70,000 loans from 11 different apps. “He repaid Rs 2,00,000 to t ....

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Another online loan defaulter ends life

Another online loan defaulter ends life
Updated:
Updated:
Pet-Basheerabad resident had taken ₹70,000 loan from app-based companies
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Pet-Basheerabad resident had taken ₹70,000 loan from app-based companies
Unable to withstand the alleged harassment by microfinance lending app companies, a private employee killed himself at his residence in Gundla Pochamma village of Pet-Basheerabad in Medchal-Malkajgiri district on Saturday morning.
This is the fifth “forced suicide ‘ in Telangana due to online lenders harassment and public shaming.
The victim, G Chandra Mohan (36), obtained a personal loan from an app a few weeks ago, and to clear it within the stipulated time of one week, he ended up taking loans from multiple apps, Cyberabad Commissioner of Police V.C. Sajjanar told ....

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One more online loan defaulter ends life in Telangana

Harassed by online loan apps, defaulter ends life in Telangana
Updated:
Updated:
36-year-old had taken ₹70,000 loan from nine app-based companies
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36-year-old had taken ₹70,000 loan from nine app-based companies
Undeterred by the police probe into app-based loan finance companies, loan recovery calls made to customers are eventually forcing them to end their lives.
On Saturday, G. Chandra Mohan, 36, supervisor of a private warehouse, committed suicide at his residence at Gundla Pochamma village of Pet-Basheerabad in Medchal-Malkajgiri district, about 30 km from Hyderabad. This is the fifth “forced suicide” by these companies existing only as mobile applications.
Cyberabad Commissioner of Police V.C. Sajjanar said that the victim took a loan from one such company a few weeks ago and to repay the amount before the deadline of one week, he took loans from other unauthorised app available on Google Playstore. ....

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