The UT Police have arrested three more accused in the Hugo Loan App Scam.
The accused have been identified as Manoj Rathore, 43, Punit Kumar, 44, and Ashish Kakkar, 33. They were nabbed from Delhi on December 29-30 and subsequently produced before a court in Chandigarh, which granted them three days of police remand.
The case, which was registered on September 3, 2022, involves the operation of fraudulent instant loan applications such as Hugo Loan, Coin Cash, and AA Loan.
The scam, which targeted unsuspecting victims, saw perpetrators gaining access to personal data through the apps, including contacts and galleries. Victims were blackmailed with morphed images of their family members and threatened with the circulation of these images unless ransom payments were made.
According to the investigation, the accused operated through shell companies set up in the names of others, with Punit Kumar and Ashish Kakkar playing key roles.
Manoj Rathore, identified as the driver of Punit Kumar, was involved in facilitating these operations using forged documents and KYC credentials. The money from the victims was channeled through these companies, which later found its way into the hands of Kumar and Kakkar. Police have successfully recovered ₹17 lakh along with multiple digital devices from the arrested individuals.
The investigation, spearheaded by the superintendent of police (cyber), has revealed that the perpetrators used virtual numbers and social media platforms, including WeChat, Dingtalk, and GB WhatsApp, to harass and extort money from victims. So far, 29 individuals, including tele-callers, account holders, and handlers, have been arrested in connection with the scam, which is believed to have international linkages.
{{/usCountry}}The investigation, spearheaded by the superintendent of police (cyber), has revealed that the perpetrators used virtual numbers and social media platforms, including WeChat, Dingtalk, and GB WhatsApp, to harass and extort money from victims. So far, 29 individuals, including tele-callers, account holders, and handlers, have been arrested in connection with the scam, which is believed to have international linkages.
{{/usCountry}}Police are also investigating the involvement of a Chinese national in the conspiracy, as well as exploring potential violations of the Foreign Exchange Management Act (FEMA) and the Prevention of Money Laundering Act (PMLA).
Enforcement Directorate (ED) sources confirmed that Puneet Kumar and Ashish Kakkar had previously been arrested under PMLA, further complicating their financial crimes.