Online ponzi scam: Look out circular issued against three Chinese nationals

Prameyanews English

Published By : Prameya News Bureau | September 04, 2023 IST

EOW

Bhubaneswar, Sep 4: The Bureau of Immigration on the request of the Economic Offences Wing (EOW) has issued look out circular (LoC) against three Chinese nationals in connection with an online ponzi scam.

Police said that LoC have been issued against Liu Huan, Wenhui Zheng and Xu Xiaolu. Police said that the trio are close associates of Guanhua Wang, another key accused of the scam. 

Wang along with the other Chinese nationals came to India in 2019 and stayed in Bangalore for few months. They created at least 14 shell companies to run various cyber-financial frauds. Initially their focus was on ‘killer loan apps” scam but after banning of apps they switched over to other frauds like earning apps and betting apps.

They were using the morphed photos of celebrities like Amitabh Bachhan, Mukesh Ambani, Ratan Tata, Sachin Tendukar, Technical Guruji ( famous You Tuber) and Urfi Javed etc. in their online Ads to lure the new investors.

EOW, in this case, has till date frozen more than Rs 3 crores in various bank accounts.

    Tags
  • Economic Offences Wing (EOW)
  • look out circular (LoC)
  • Bureau of Immigration
  • Chinese nationals
  • online ponzi scam

News7 Is Now On WhatsApp Join And Get Latest News Updates Delivered To You Via WhatsApp

You Might Also Like

More From Related News
EOW
EOW
EOW
EOW
EOW
EOW
EOW
EOW
EOW
EOW
EOW
EOW
EOW
EOW
EOW
EOW
EOW
EOW
EOW
EOW
Rath Yatra

Copyright © 2024 - Summa Real Media Private Limited. All Rights Reserved.