Mobile apps loan case: ED conducts fresh raids against firms owned by Chinese nationals

New Delhi: The Enforcement Directorate (ED) on Tuesday said it has conducted fresh searches against two companies and persons linked to them as part of a money laundering investigation against entities “owned” by Chinese nationals that lent money through mobile phone apps and later harassed borrowers by accessing their personal details.

The raids were undertaken on December 21 last year at 19 locations in Delhi-NCR, Chandigarh, Haryana, Punjab and Gujarat against Shinebay Technology India Private Limited (STIPL), Mpurse Services Private Limited (MSPL) and others which were “owned and controlled” by Chinese nationals, the agency said in a statement.