App-based loan fraud: Hyderabad police arrest Bengaluru resident running 9 finance, tech companies

In continuation of their investigation in the instant loan apps harassment cases, the Hyderabad police have arrested one more accused – a resident of Mahadevapura in Bengaluru.

The cyber crime police arrested Chinnabba Rajashekar, director of nine companies involved in loan apps

Rajashekar, 27, is a native of Chittoor in Andhra Pradesh and is the director of Yunwei Technologies Private Limited, Satime Technologies, Reusing Technologies, Pregla Fintech, One Libra Financial Services, Naqiful Technologies, Aojing Technologies, Heiseqian Technologies and Feng Fintech Services.

All these private companies are connected to money lending apps namely Snapit, ok cash, Mybank, Cash bee, Rupee factory, bubble loan, go cash etc, Joint Commissioner of Hyderabad Police, Avinash Mohanty said.