29 November 2022

Hyderabad : Fluency Mandarin and the lure of big money sucked Virender Singh and Sanjay Kumar into a Rs 903 – crore Chinese app-based investment fraud that Hyderabad police unearthed recently.

The duo was among 10 people arrested so far, including Chinese man Lec alias Li Zhongjun and Taiwanese national Chu Chun – Yu.

Before they were ” hired ” by Lec and Chu’s gang, Vi render and Sanjay worked as translators and guides for foreign visitors, police sources said.

Both are fluent in Mandarin and their clientele comprised mostly Chinese tourists and businessmen visiting India.

2 Indians into a Chinese scam
2 Indians into a Chinese scam

” They contacted Chinese nationals traveling to India for various purposes through WeChat groups. Since most of these tourists did not know Indian languages, in some cases not even English, the duo acted as translators. That’s how their network of Chinese nationals grew, ” a police source said.

The Chu had set up an electronic gadgets import business in Delhi that investigators believe was a front.

He lured Sanjay into the investment racket when he came to know of his language skills. The Chu told Sanjay that his bosses in China wanted local support in starting a company and setting up bank accounts in the name of Indians.

He said Sanjay would be paid Rs 1.2 lakh for each bank account.

Officials said it was Lec who arranged the commission for Sanjay, while Viren der got his cut from a man named Jack, who is believed to be in China.

During the investigation, police found victims ‘ money was credited into a bank account of Xindai Technologies Pvt Ltd that was opened by Virender. When he was caught in Pune and grilled, police found out it was a Chinese – operated investment fraud that duped people by promising high returns.

Virender claimed that he opened the account on instructions from Jack.

The money thus credited into the account was diverted. ed to 38 different banks. Subsequently, they were routed to six different forex companies.

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