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HYDERABAD: Following the crackdown by Indian security agencies earlier this year on app-based instant loans promoted by Chinese businessmen, Chinese loan sharks opened up fronts through their former employees in India to dupe people in this country like back-and-forth. channel strategy.
Hyderabad Police came to know about this when they recently busted a racket based on the confession of a suspect in an online investment fraud.
Police said China has persuaded its former Indian employees to register at least 12 new companies to run online investment scams. Last week, Hyderabad Central Crime Station (CCS) arrested A Srinivasa Rao, Vijay Krishna and Vijay Bhaskar in this connection.
Srinivas is said to have confessed that he had worked for a Madhapur-based company, which was shut down after representatives harassed customers to recover loans. Chinese nationals, Jolie and Michael, were the company’s chief executive officer and senior manager.
Earlier this year, six cases of suicides due to harassment were reported in Telangana.
Chinese counterfeiters cut their activities because of the lockdown and police crackdown. But Jolie and Michael restore contact with their former employees and tell them about a different business.
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