Loan app scam: Rs 500 cr sent to China; 22 Indians arrested


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New Delhi, Aug 20: The Intelligence Fusion and Strategic Operations (IFSO) Unit of Delhi Police's Special Cell has busted various modules of instant loan applications having Chinese connection, and arrested 22 people in the last two months for allegedly siphoning off Rs 500 crore to China by the hawala route or by investing in crypto-currency, an official said on Saturday. The arrested individuals were working on behest of Chinese nationals. Deputy Commissioner of Police KPS Malhotra said that hundreds of complaints were received by Delhi Police that instant loan applications are disbursing loans at higher rates and even after payment...