Hyderabad: Chinese loan sharks use back channel tactics such as opening Fronts through their former employees in India to deceive people in this country, following the suppression of the Indian Security Agency earlier this year on an application-based instant loan promoted by entrepreneurs from China.
Hyderabad police found this when they recently damaged the racket based on the confession of a suspect in online investment fraud.
Police said Chinese people had convinced their former Indian employees to register at least 12 new companies to run online investment fraud.
Last week, Crime Crime Hyderabad (CCS) station caught Srinivas Rao, Vijay Krishna and Vijay Bhaskar in this connection.
Srinivas was said to have claimed that he worked for a madhapur-based company which was closed after controversy over representatives’ harassing customers to recover loans.
Chinese citizens, Joli and Michale, are the chief executive of the company and senior managers.
Six suicide cases because harassment was reported in Telangana earlier this year.
Fraudsters from China cut their activities due to the hard action and demolition of the police.
But Joli and Michale revive contact with their former employees and told them about different businesses.