The Cyberabad police has arrested four members of a gang including a Chinese national in an instant loan apps fraud case. The Cyber Crime Police of Cyberabad held a raid at a call centre headed by a Chinese national in the city, the call centre is called “Cubevo Technology Private Limited” (Skyline). The police then arrested four people including another Chinese national.
The police stated that its main office is established in Delhi and called “Skyline Innovations Technologies India Private Limited”. The company is registered in the Registrar of Companies (ROC) in Gurgaon. The company’s directors are Zixia Zhang and Umapati Ajay who have designed a total of 11 Instant Loan options that lend money at exorbitant return rates that are not only justified by interest and GST but also by bizarre concepts like processing fees default charges while another 1% is charged once the loan period is complete.
If someone hesitates in repayment or stands up to their practices, then they are not above bullying and threatening people into paying them, similar to a loanshark, although they employ their call centres in this regard instead of batons and cycle chains. Moreover, they sometimes send forged legal notices to the borrower and their family.
Officials suggest that in the past few days, the Cyber Crime Police Station, Cyberabad had registered 8 such cases against loan applications.