Instant loan app fraud busted in Cyberabad: Chinese national and three gang members arrested

Cyberabad police have arrested four gang members, including a Chinese national, in an instant loan app fraud case. Cyberabad Cybercrime Police raided a call center run by a Chinese national in the city, the call center is called “Cubevo Technology Private Limited” (Skyline). The police then arrested four people, including another Chinese national.

The police said that its main office is established in Delhi and is called “Skyline Innovations Technologies India Private Limited”. The company is registered at the Registrar of Companies (ROC) in Gurgaon. The directors of the company are Zixia Zhang and Umapati Ajay who have devised a total of 11 instant loan options which lend money at exorbitant rates of return which are not only justified by interest and GST but also by weird concepts like processing fee, default fee while another 1% is charged after the loan period is over.

If someone is reluctant to reimburse or opposes his practices, he does not hesitate to intimidate and threaten people into paying them, like a loan shark, although he employs his call centers for this respect instead of batons and bicycle chains. In addition, they sometimes send false legal notices to the borrower and his family.

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Officials suggest that in the past few days Cyberabad Cyber ​​Crime Police Station had registered 8 such cases against loan applications.

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