Odisha EOW freezes Rs 1.45 crore in bank accounts of fraud loan apps
Odisha EOW freezes Rs 1.45 crore in bank accounts of fraud loan apps
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Bhubaneswar: The Economic Offences Wing (EOW) of the Odisha police has frozen Rs.1.45 crores in Nitin Malik's bank accounts, who is in jail after being nabbed in July in an illegal digital lending case.
The action was filed in response to allegations of harassment, extortion, and mental torture by recovery agents of the Digital Loan App "Kredit Gold" via humiliating, abusive communications and manipulated images.
The EOW has received a number of complaints from victims as well as the Reserve Bank of India (RBI) regarding the illegal operation of lending applications that were not registered as NBFCs under the RBI Act.
The accused Nitin Malik's companies, Good Start Business Pvt Ltd and Right Start Business Pvt Ltd, are not registered as NBFCs with the RBI. The businesses are illegally acting as digital lenders. This worldwide group is suspected of operating at least ten such illegal loan apps. It is worth noting that the "Kredit Gold" software has received over one lakh downloads, according to EOW in a press release.
At the request and connivance of some Chinese masterminds/bosses, the accused became the Director of Good Start Business Pvt. Ltd. and Right Start Business Pvt. Ltd.
The main goal of the organisation is to purchase and operate virtual phone lines from BSNL, Airtel, and Vodafone for the purpose of running and simplifying lending and recovery through various loan apps. Malik had direct and regular contact with at least three Chinese nationals and was paid a large fee for this service.
The accused was detained in July and remains in judicial detention to this day. Neerav Gupta, another accused in the case, has also been detained and is now in judicial custody.
