Chittoor man who is director of 9 companies arrested in instant loan app fraud

The Cyberabad cyber crime police on 11 March arrested a 27-year-old from Chittoor, Andhra Pradesh, in connection with the instant loan app cases. Chinnabba Rajashekar is the director of nine companies.

By Newsmeter Network  Published on  11 March 2021 11:20 AM GMT
Chittoor man who is director of 9 companies arrested in instant loan app fraud

Hyderabad: The Cyberabad cyber crime police on 11 March arrested a 27-year-old from Chittoor, Andhra Pradesh, in connection with the instant loan app cases. Chinnabba Rajashekar is the director of nine companies.

The nine companies are Yunwei Technologies Private Limited, Satime Technologies Private Limited, Reusing Technologies Pvt. Ltd, Pregla Fintech Pvt. Ltd, One Libra Financial Services Pvt. Ltd, Naqiful Technologies Pvt. Ltd, Aojing Technologies Pvt. Ltd, Heiseqian Technologies Pvt. Ltd, and Feng Fintech Services Pvt. Ltd. All are connected to money lending apps including Snapit, ok cash, Mybank, Cash bee, Rupee factory, bubble loan, and go cash.

So far 21 persons, including a Chinese national Zhu Wei, have been arrested in the instant loan app case. During investigations, the police identified the accounts associated with the fraudsters and froze accounts worth Rs. 300 crores. The cops said efforts are being made to arrest the absconding accused persons who played a key role in the fraud.


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