Loan app scam: Three directors held in Bengaluru

BENGALURU: In the continuing crackdown on instant app-based lenders, CCB sleuths on Sunday arrested three directors of a company for allegedly harassing defaulters.The arrested have been identified as Syed Ahmed (33), Syed Irfan (26) and Adithya Senapathi (25), who are residents of Hosaguddahalli and Varthur. 

A senior police officer said that the three were arrested following complaints of harassment by several victims, who had alleged that they were charged a higher rate of interest for the loans taken. The action comes close on the heels of a raid conducted a few days ago on such loan app companies, owned by the Chinese. The accused were using coercive methods to recover dues from defaulters, he added. 

The police officer said that a special team was formed and the accused were arrested based on phone call records between them and the Chinese owners. The local police have gathered details from the Hyderabad police, who recently arrested four including a Chines woman, over similar charges. 

The police have seized 35 laptops, 200 cell phones, eight cheque books, 20 smart phones, 30 SIM cards and nine seals belonging to Money Pay, Paisa Pay, Loan Time, Rupee Day, Rupee Kart, and In Cash, the officer said.