Bhubaneswar: The Bureau of Immigration (BOI), has issued a lookout circular (LOC) against three more Chinese citizens, all main accused and close associates of Guanhua Wang, in a mega online ponzi scam.
The LOC was issued at the request of the Economic Offence Wing of Odisha Crime branch against Liu Huan, Wenhui Zheng and Xu Xiaolu.
The case, EOW sources here Monday said refers to a huge pan-India online ponzi scam involving fraud and siphoning of hundreds of crores rupees out of India using a complex network of mule bank accounts, shell companies/ firms and crypto-traders.
Earlier, LOC was issued against the mastermind of this scam namely Guanhua Wang from Hangzhou, China. He along with these Chinese came to India in 2019 and stayed in Bangalore for a few months.
EOW sources informed these Chinese nationals created at least 14 shell companies to run various cyber-financial frauds.
Initially, their focus was on the ‘killer loan apps’ scam. But after these apps were banned, they switched over to other frauds like earning apps and betting apps.
Almost all the shell companies are based in Bangalore. More than 85 bank accounts having hundreds of crore of transactions have been noticed in these shell companies. They have hired numerous mule directors including some housewives and many Indian mobile numbers are still used by perpetrators based in China, EOW sources said.
UNI