[google-translator]
BENGALURU: The Directorate of Enforcement on Wednesday said it provisionally attached movable assets to the tune of Rs 106 crore in the Chinese loan app case.
Since 2019, Karnataka police registered several FIRs against Chinese loan apps, accusing entities of extorting and harassing those who had availed small loans through the apps.
“…These entities were incorporated by appointing dummy directors on behalf of Chinese nationals… These entities are involved in illegal/criminal activities by submitting fake addresses in KYC documents and taking assistance from various professionals and other persons. These Chinese national-controlled entities have indulged in huge money laundering activities through the merchant IDs maintained with payment gateways and accounts maintained with various banks,” read an ED release.
Since 2019, Karnataka police registered several FIRs against Chinese loan apps, accusing entities of extorting and harassing those who had availed small loans through the apps.
“…These entities were incorporated by appointing dummy directors on behalf of Chinese nationals… These entities are involved in illegal/criminal activities by submitting fake addresses in KYC documents and taking assistance from various professionals and other persons. These Chinese national-controlled entities have indulged in huge money laundering activities through the merchant IDs maintained with payment gateways and accounts maintained with various banks,” read an ED release.