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The Main Accused Of Micro Finance Case Is Arrested
The Main Accused Of Micro Finance Case Is Arrested
The Hyderabad police team has lashed out microfinance apps players
The Hyderabad police team has lashed out microfinance apps players. However, the mastermind behind this case was arrested by the Hyderabad police. Madhu, a native of Hyderabad, was arrested by the CCS Crime Department Police and was sent to the custody. Madhu set up three call centers in Hyderabad 4 months ago. The call center has a total of 700 employees. Thus with the help of his employees, he gave loans through the 16 apps. He harassed large-scale victims to repay these loans.
However, the authorities received crucial information from those arrested by the police in this regard. Madhu worked in Gurgaon, Delhi for a few years and then shifted to Hyderabad. While working there, he came in contact with a man named Nagraj. Nagraj works for a Chinese company. However, as Nagraj said, large-scale advertisements were poured in saying that they would give instant loan through the mobile app. Along with Nagraj, Madhu set up three call centers in Hyderabad. Large-scale harassment in lending and repaying loans were done through these call centers.
Authorities said Madhu had been doing the same in Delhi for some time. Apart from that, a similar call center was set up in Bangalore last January. From there he shifted the call center and set up three call centers in Hyderabad. Through all these call centres he manages 16 apps and through these he harasses large scale victims to repay loans. However, if Nagraj is found, then the full details are likely to be revealed. Authorities are still investigating the real story behind the China App.
Authorities, meanwhile, detained 11 employees working for a total of 16 apps for online debt. Notices were issued to all of them. Authorities yesterday raided a Gurgaon-based apps scam. A total of four call centers were raided and 1100 employees were identified. All of them are working for a total of 16 microfinance apps, officials said. Complete data was collected in this regard. Authorities have already seized hundreds of laptops and computers. Police are currently investigating the whereabouts of the main server.
