Instant loan-cum-extortion racket involving Chinese national busted; 21 held in Chandigarh

In a marathon 10-day operation spanning across five States, the Chandigarh Police on MOnday said it had busted an instant loan-cum-extortion racket and arrested 21 people including a Chinese national from different parts of the country.

The gang operated at the behest of a Chinese national who was overstaying the visa period and was the alleged kingpin of an illegal instant loan app racket being run with a group of 60 people under him, said Chandigarh SP City Ketan Bansal. The Chandigarh Police recovered cash of Rs 17.31 lakhs, nine laptops, 41 mobile Phones, one Desktop Computer, expired Passport of Wan Cheng from their possession, he added.