West indian countries

Chinese loan sharks trapped in 5 countries: police

Not just desperate Indians but mobile loan morons were targeting people in other developing countries like Pakistan, Bangladesh, Sri Lanka, Indonesia and Nepal

Many illegal call centers working for the Indian loan application racket have recently been busted in Nepal

Rogue digital loan companies started by Chinese nationals that have wreaked havoc on the lives of thousands of Indians have also extracted tons of money from innocent borrowers in developing countries like Pakistan, Bangladesh, Sri Lanka, Indonesia and Nepal. This was discovered by a special investigation team formed by the Odisha Police. This organized crime is an attempt to disrupt the economies of these countries, police said.

A Special Investigation Team (SIT) from Odisha Police is concurrently investigating dodgy loan applications and issued Oversight Circulars (LOC) against an Indian man, whose ancestors came from China, and three Chinese nationals until ‘now. One of the defendants, against whom the LOC was issued, also emerged as the linchpin of an investigation by Mumbai police.

Haiying Yang, aka Doris;  Quan Honwei, aka Paul;  Shen Zhenhua aka Tony and Liang Chi Sheng
Haiying Yang, aka Doris; Quan Honwei, aka Paul; Shen Zhenhua aka Tony and Liang Chi Sheng

On May 26, Odisha Police SIT arrested Ram Narayan Pathade, director of Mumbai-based Delhi-based Mahagram Payments Private Limited. Pathade had an office in Dahisar. He and his associates Tarun Dudeja and Mohd. Javed Saifi was linked to digital lending apps like Koko and Jojo, both unregistered as non-bank financial companies under
RBI law.

SIT also arrested Nitin Mallik, the director of shell company Good Start Business Services Pvt. ltd. July 13. The company had the Kredit Gold loan app which has thousands of downloads. Mallik also happened to be a director of Right Start Business Pvt. ltd.

Nitin Malik, who was arrested in Mumbai by Odisha police
Nitin Malik, who was arrested in Mumbai by Odisha police

SIT recovered copies of Chinese nationals’ passports, contractual agreements with Chinese nationals, WhatsApp chats and emails, and abusive text messages aimed at Malik’s borrowers. They said Mallik was in regular contact with Chinese nationals, reinforcing SIT’s suspicions of the role of Chinese loan sharks.

The economic crime wing of the Odisha police issued surveillance circulars against Jiangsu residents Shen Zhenhua, alias Tony, and Quan Hongwei, alias Paul, and two others identified as Yang Haiying, alias Doris from Sichuan and Liu Yi, who has also emerged as a kingpin in the investigation by a Mumbai police SIT.

“They are the mastermind and the main defendant linked to the management of illegal digital loan applications. There are more than one lakh victims of Kredit Gold loan application across the country, many of them from Odisha. They also have ties in the United States and Hong Kong. They are expanding their financial criminal network in African and Middle Eastern countries,” said JN Pankaj, DIG-EOW, Odisha. “Evidence also suggests that they run a similar scam in Indonesia, Sri Lanka, Pakistan, Nepal and Bangladesh.”

The Odisha SIT has found that masterminds are operating in India with the help of shell companies mostly named and referred to as Goodstart Business Private Limited, Rightstart Business Private Limited, etc. collection agents and call centers. Sources said these masterminds are behind hundreds of illegal digital loan applications.

“Nitin Malik, arrested at the beginning of the month, is a close collaborator and henchman of the Chinese bosses. He used to receive a huge salary and a commission for his work. EOW will direct Interpol through the appropriate channels for the extradition of these criminals to India and will also alert law enforcement in other affected countries. EOW has already written twice to Google to remove illegal lending apps from its Play Store. EOW also asked RBI to impress Google for early removal of illegal lending apps. We have requested the Registrar of Companies to investigate and take necessary action against the alleged front companies,” DIG Pankaj added.

July 13
When Odisha cops arrested a big fish from Mumbai

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