Odisha: EOW arrests two more fraudsters in illegal loan App case

Bhubaneswar: The Economic Offence Wing (EOW) of Odisha arrested two more fraudsters for their involvement in the illegal loan App case.

According to reports, Rakshith and Sushanth of Udupi District in Karnataka were arrested by the EOW from Bhubaneswar in EOW PS Case No.9 dated 21.04.2022 U/s 294/506/507/420/467/468/120-B IPC & 66 D of IT Act, 2000.

Both Rakshith and Sushanth are the directors of companies – Mudmate Technologies Private Limited, Yellow Tune Technologies Private Limited and Pinkleaf Aryan Communications Private Limited. They will be produced before the Court of SDJM in Bhubaneswar today.

Rakshith and Sushanth being the Directors of the above companies in connivance with others were facilitating the transaction of illegal lending and recovery process of the loans given through illegal digital loan apps like KOKO, JOJO and many other Apps. They were doing this in connivance and collaboration with many other shell companies like IWT-India etc. they were also managing a call centre from Bangalore which used to make threatening and humiliating calls and massages to victims loanees and their contacts.

Both of them are said to have disclosed many important information which gives indication towards a very complex and well organized racket, the details of which is being investigated.

Earlier accused Md. Javed Saifi the proprietor of IWT-India and Sri Tarun Kumar Dudeja, the Proprietor of Digital Batua and other dubious/Shell companies have been arrested in this case and an amount of around Rs 6.57 Crore lying in accounts of M/s Mahagram Payment Pvt. Ltd. has been frozen.

Also, a total of 41 post-paid JIO SIM Cards in the names of various persons to be used in the mule accounts have been seized from Tarun Kumar Dudeja. As many as 1058 virtual accounts belonging to Mahagram payments used to run the scam have been frozen.

Also accused Ram Shriram Pathade, Managing Director of Mahagram Payments Pvt. Ltd, a resident of Sonam Heights in Mumbai was arrested from Indira Gandhi International Airport, New Delhi on May 25, 2022.

Apart from arresting the accused persons, the Odisha police has requested Google to take down/ remove the illegal Loan Apps from their play store. The Reserve Bank of India (RBI) has also been requested to take strict action against these illegal loan Apps.

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