Chinbaba Rajasekhar, 27, a resident of Chittoor district in Andhra Pradesh and works in Bengaluru.
Continuing its investigation into alleged financial fraud by app-based loan app companies, the Hyderabad Cyber Crime Police on Thursday arrested the director of nine such firms out of Bengaluru.
Chinnaba Rajasekhar, 27, a resident of Chittoor district in Andhra Pradesh, works in the capital of Karnataka state.
He was a director of Univei Technologies Private Limited, Satyam Technologies Private Limited, Resusing Technologies Private Limited, Pragla Fintech Private Limited, One Libra Financial Services Private Limited, Naqiful Technologies Private Limited, Azing Technologies Private Limited, Hezecotics Technologies Private Limited and Feng FinTech Services. Joint Commissioner of Police (Detective Department) Avinash Mohanty said that private limited which are associated with Money Money app like Snapdeal, OK Cash, MyBank, Cash Bee, Rupee Factory, Bubble Loan, Go Cash etc.
He said that so far they have arrested 21 people including Zhu Wei alias Lambo and a Chinese citizen. Nagaraju, Singhi Madhu Babu and Palle Jeevan Jyoti.
During further investigation, the police identified various bank accounts linked to the fraudsters and committed fraud worth Rs 300 crore.
“Efforts are being made to arrest the absconding accused, who have played a key role in this much-talked-about financial fraud,” the official said.
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