Illegal loan App case: Look out circular against 3 Chinese Nationals

The Bureau of Immigration (B

OI) has issued look out circular against following three more Chinese National in connection with the alleged illegal digital Loan App case. The look out circular has been issued against- Shen Zhenhua alias Tony, Quan Hongwei and Yang Haiying on the request of Economic Offences Wing, Bhubaneswar.

The EOW in a release said that the three Chinese Nationals are the mastermind and main accused in the case pertaining to running illegal digital Loan Apps. There are more than one lakh victims of Kredit Gold Loan APP across the country including many from Odisha.

Apart from India, the accused are running similar scam in several other countries including Indonesia, Sri Lanka, Pakistan, Nepal and Bangladesh.

“The accused also have links in USA and Hong Kong. They are in the process of expanding their financial criminal network in African and Middle East countries. They operate in India in connivance with many shell companies mainly named and styled as M/s Goodstart Business private limited, M/s Rightstart Business private limited etc. Indians are made directors of these companies,” the EOW release said.

Evidences suggests that these accused along with some other Chinese group are running hundreds of illegal digital loan App and extorting and mentally torturing Lakhs of innocent loanees mainly from lower middle class people.

Earlier, the EOW had arrested accused Nitin Mallik, Director of Good Start Business Services Pvt. Ltd. on July 13, 2022 from Hari-nagar police station area of New Delhi. Nitin is said to be the close associate and henchman of Chinese bosses. He used to get huge salary/ commission for his job.

EOW will move Interpol for extradition of these criminals to India and also to alert law enforcement agencies of other concerned countries. The agency has already written twice to Google to take down the illegal Loan APPs from its play store.