The Hyderabad Cyber Crime Police arrested ten accused running a hawala scam out of Delhi and Mumbai on Wednesday.
After a complaint was made, the police busted the racket. The victim lost Rs 1.6 lakh after investing in the LOXAM app.
In the process of their inquiry, the officers found that the complainant’s money had been deposited in an Indusind Bank account under the name Xindai Technologies Pvt Ltd.
This bank account was opened by the accused, Virender Singh, who revealed that Jack, a Chinese national who previously ran the account, had given him the instruction to open a bank account in the name of Xindai Technologies Pvt Ltd.
The same phone number was used by Xindai Technologies Pvt Ltd and Betench Networks Pvt Ltd, two organisations engaged in the same fraud. On the orders of Lec Li Zhounjau, another Chinese national, Sanjay Kumar managed the bank account for Betench Networks from his home in Delhi.
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