Karnataka CID busts ₹290 cr scam with links to Chinese ‘hawala’ operators


Karnataka police on Saturday said they have busted a 290 crore plus scam that involved duping people through a mobile app after promising attractive interest on investment and two Chinese nationals were among the nine arrested.

The scam, aided by shell companies, is linked to money laundering and the suspected kingpin is a Kerala based businessman with proximity to Chinese ‘hawala’ operators, they said. Cyber Crime Division of CID said it has arrested accused persons, including two Chinese nationals, two Tibetans and five others acting as directors of the companies involved, and a search is on for the rest.

In the latest development, the agency urged people who invested in Power Bank APP in Karnataka to approach them with all details.

A complaint from Razor pay Software Private Limited said accused persons availed ‘payment solutions’ from them,claiming that they are in gaming, social and e-commerce businesses. They,…

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