Mobile application fraud: Uttarakhand police identify two Chinese defendants
Uttarakhand Police Special Task Force (STF) Identified Two Chinese Citizens Among Charged In Alleged Mobile Application Fraud and Cryptocurrency-Based Money Laundering Racketeering
POSTED JUNE 12, 2021 11:36 AM IST
The Uttarakhand Police Special Task Force (STF) has identified two Chinese citizens among those charged with alleged mobile application fraud and cryptocurrency-based money laundering racketeering.
Additional Director General (Law and Order) Abhinav Kumar said on Friday that the two men had been identified on the basis of “technical evidence”.
The STF said on Wednesday it had dismantled the racketeering that allegedly duped people from ₹360 crore across India via the app, which fraudulently promised a double return on their money invested in 15 days.
He arrested an identified defendant Pawan Kumar Pandey from Noida in the case.
Kumar said the two Chinese defendants were based in Hong Kong. He added that they had “clear traces” that the deceived money was transferred to bank accounts through online payment gateways from where it was converted into cryptocurrencies. Kumar said he was then cashed in local currencies in China by the main defendants.
He added that they also found five similar apps. “After the bursting of this racket, we have so far received 55 other similar complaints in which cases have been recorded in four of them.”
Kumar said the fraud is serious involving many foreign citizens. He added that they are coordinating with central agencies for their assistance.
Kumar said a second defendant identified as Rakesh Bairagi was arrested in Lakhimpur Khiri in Uttar Pradesh. “He was the director of two companies and received the money from the fraud on the bank accounts … Financial transactions worth ₹57 crore was found through his bank account, ”Kumar said.
Uttarakhand Police Chief Ashok Kumar said on Wednesday the racket was dismantled during the investigation of a complaint filed by two residents of Haridwar.