Hyderabad: Additional charges against Chinese national running betting ring

HYDERABAD: Central crime station (CCS) sleuths on Wednesday informed the Nampally court that it had invoked the Prize Chits and Money Circulation Schemes (Banning) Act against Chinese national Yah Hao — head of south-east Asia for Beijing T Power Company, and other accused. This, in addition to charges of cheating, conspiracy and promoting gaming.
Meanwhile, Paytm officials appeared before investigators as the company had been used as the payment gateway for the online gambling companies of the accused. According to officials, the use of different gambling companies by the accused — who paid commissions to users for referring new customers — amounts to money circulation. “Any scheme where earning is made through addition of new members upon referrals, will come under money circulation,” a Hyderabad police official told TOI.
A few days back, Yah Hao had moved a bail application, which is yet to come for hearing before the court. Hao denied involvement in gambling and claimed that his company only deals in the e-commerce business.
Payment gateways Paytm and Cashfree, have been called to provide more details of transactions which are under the scanner in order to shed a clear light on the source of the money, its outflow and the overseas accounts to which the monies were transferred. “The legal and sales team of Paytm appeared and gave partial information as sought by us. The remaining information, they are yet to provide. Similarly, authorities of Cashfree and a prominent international bank were also served notices to appear,’’ sources in Hyderabad police told TOI.