Hyderabad: Five more persons linked to the Rs 903 crore investment fraud, allegedly operated by Chinese nationals, were arrested by the Hyderabad police on Tuesday.
Additional Commissioner of Police (crimes), AR Srinivas, said that a Philippines national Allen got in touch with the people from Telangana and convinced them to open bank accounts to be used in gaming applications.
“Allen collected the details of the persons who lost money in the ‘IPL Win’ application and contacted them. He offered them huge money for helping him with bank accounts and SIM cards,” said Srinivas. On instructions of Allen, four persons Naga Prasad, Ram, Sagar and Srinivas obtained SIM cards and opened bank accounts and provided it to associates of Allen staying in Mumbai for the investment fraud.
Nagar Prasad contacted a few persons and convinced them to open bank accounts on some pretext and took their details. He then sent it to one person belonging to Mumbai whose name has not been disclosed by the police.
Sagar, Srinivas and Ram adopted the same modus operandi and sent SIM cards and bank account details to Mumbai after obtaining it from their friends or relatives who convinced them to join the business.
Srinivas said that Allen has connections with Chinese creators who make gaming apps. He has links with Chu Chun-Yu – a Taiwan national who was involved in the investment fraud case that was busted recently. The bank accounts were being used to collect and transfer money from victims of investment or other frauds.
One more person named Imran, who was allegedly involved in the investment fraud scam, was also arrested on Tuesday. The Hyderabad police on October 12 busted the Rs 903 crore investment fraud and arrested ten persons, including a Chinese man and a Taiwanese national.
The police said that they seized an amount of Rs 903 crore from different bank accounts with international links connected to the fraud.
A Mumbai native Imran had allegedly obtained bank accounts from three persons Syed Sultan, Mirza Nadeem Baig and Parvez after paying them Rs 50,000 each for the bank account and handed the account credentials to the masterminds of the investment fraud.
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