News Chinese scam that cheated 5 lakh Indians of Rs 150 crore busted

Jackdaws

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In one of the biggest financial crackdowns by Delhi Police, an elaborate money laundering scam run by China-based entities has been busted. Two CAs, a Tibetan woman and eight others have been arrested.


Around five lakh Indians have been duped of their “investment” and their sensitive data stolen through malicious “quick earning”

apps
running in the garb of an online multi-level marketing campaign. Over Rs 150 crore has been siphoned in just two months, according to police commissioner S N Shrivastava.


Rs 11 crores of has been blocked in various bank accounts and payment gateways and Rs 97 lakh cash recovered from a Gurgaon-based CA who formed over 110 companies for Chinese fraudsters.
 

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China is arming north eastern proxies too
 

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