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Police Want to Question Chinese Man Arrested by Hyderabad Cops in Loan Enforcement Case | Bangalore News

By on April 19, 2021 0
BENGALURU: City police investigate the alleged extortion and blackmail by companies with instant loan applications say they want to question Chinese national Zhu Wei aka Lambo, 27, who was arrested by Hyderabad police in a similar case.
Shortly after police in Bengaluru and Hyderabad cracked down on these companies, Wei, a resident of Hyderabad, became elusive. But a special Hyderabad police team apprehended him on December 30 when he arrived at Indira Gandhi International Airport in Delhi.
Wei, from Jiangxi, China, owns four companies specializing in instant loan applications in Hyderabad. “Three Chinese-owned Bengaluru companies appear to have had ties to Wei. He was instrumental in setting up and running the call center that communicated with those who got loans in Bangalore as well as Hyderabad, ”said a city police officer.
He added that two other people, Yi Bai and Zixia Zhang, both of Chinese nationality, are suspected of being involved in the fraud. The trio had created companies offering instant loans through apps in many cities, including Hyderabad and Bengaluru, police said.
Police raided four companies in Bengaluru last week – Mad Elephant Technologies, Borayanxy Technologies, Profitise Technologies and Wizzpro Solutions – and arrested five people, including a finance director and a human resources manager.
Alerted by CID As to the seriousness of the scam, officials from the Intelligence Bureau (IB) also questioned the two arrested defendants. A total of seven cases have been registered against such companies in Bangalore so far.
  Finance
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