Chittoor Man, Director of 9 Companies, Arrested for Instant Loan Application Fraud

Hyderabad: Cyberabad cybercrime police arrested a 27-year-old from Chittoor, Andhra Pradesh on March 11 in connection with the instant loan application cases. Chinnabba Rajashekar is the director of nine companies.

The nine companies are Yunwei Technologies Private Limited, Satime Technologies Private Limited, Reusing Technologies Pvt. Ltd, Pregla Fintech Pvt. Ltd, One Libra Financial Services Pvt. Ltd, Naqiful Technologies Pvt. Ltd, Aojing Technologies Pvt. Ltd, Heiseqian Technologies Pvt. Ltd and Feng Fintech Services Pvt. Ltd. All are connected to money loan applications, such as Snapit, ok cash, Mybank, Cash bee, Rupee factory, bubble loans and go cash.

So far, 21 people, including a Chinese citizen Zhu Wei, have been arrested in the instant loan application case. During the investigations, the police identified the accounts associated with the scammers and froze the accounts worth Rs. 300 million rupees. Police said efforts are being made to arrest the escaped defendants who played a key role in the fraud.

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