Illegal loan app case: Odisha EOW makes 2 more arrests

The Economic Offences Wing (EOW) of the Odisha Crime Branch on Saturday arrested two more fraudsters from Bhubaneswar in connection with the illegal loan app case.

The fraudsters have been identified as Rakshith and Sushanth, residents of Udupi District in Karnataka.

Both the accused were produced before the SDJM, Bhubaneswar today.

As per reports, the accused ran illegal shell companies; Mudmate Technologies Private Limited, Yellow Tune Technologies Private Limited and Pinkleaf Aryan Communications Private limited.

Rakshith and Sushanth acted as the Directors of these shell companies and facilitated transaction of illegal lending and recovery process of the loans given through illegal digital loan apps like KOKO, JOJO and many other Apps.

An EOW press release said, "They were doing this in connivance and collaboration with many other shell companies like IWT-India etc. They were also managing a call centre from Bangalore which used to make threatening and humiliating calls and massages to victim (Loanees) and their contacts.

"They have disclosed many important information which gives indication towards a very complex and well-organized racket, the details of which is being investigated.," the release stated.

Earlier accused Md Javed Saifi, the proprietor of IWT-India and Tarun Kumar Dudeja, Proprietor of Digital Batua and other dubious/Shell companies were arrested in this case and an amount of around Rs.6.57 Crore lying in accounts of M/s Mahagram Payment Pvt. Ltd. was frozen in this connection.

The EOW has also seized 41 post-paid SIM Cards in the names of various persons from Tarun Kumar Dudeja. 1058 virtual accounts belonging to Mahagram payments used to run the scam have been frozen.