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China link found to global hawala scam to the tune of Rs 290 crore | India News


BENGALURU: The cybercrime division of the Criminal Investigation Department stopped an international hawala and money laundering scam amounting to Rs 290 million and arrested nine people, including a Chinese woman and two Tibetans.
The arrests were made in different parts of the country, including New Delhi and Surat. The FIR has appointed 12 people. While police said they arrested eight people named in the FIR, the ninth person, Hu Xiolin, 40, is the wife of suspect Anas Ahmed. The CID said that Xiolin has a Chinese passport.
They said Xiolin is among the main suspects. Ahmed is on the run. Police said Ahmed and Xiolin resided in Swiss Town, Sadahalli Gate, Devanahalli. Initially, the two had an online rummy website and gradually accepted investments from the public through the ‘Powerbank’ app. All the investments were deposited in around 900 different bank accounts of Ahmed and others in different states. The arrests followed a complaint made by the software payment gateway ‘Razorpay’ private limited.
“The suspects took advantage of Razorpay’s payment solutions by representing that they are conducting business in the gaming, social media and e-commerce categories. But he defrauded the company by using computers and deviating from his original category of business in which he had registered. The suspects routed transactions to collect payments from a different company called Powerbank, an application listed on Google PlayStore, ”said SP (cybercrime cell), CID, MD Sharath.

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