HomeNationChinese loan apps: ED freezes fresh Rs 9.82 cr worth funds kept...

Chinese loan apps: ED freezes fresh Rs 9.82 cr worth funds kept in payment gateway accounts

@the_news_21

The ED has frozen Rs 9.82 crore worth funds kept in merchant IDs with certain online payment gateways as part of an ongoing money laundering investigation against a “Chinese-controlled” investment token app.

This is the second time that the ED has frozen funds kept in merchant IDs with certain online payment gateways.

“Various Chinese-controlled entities like Comein Network Technology Private Limited and others, in service agreements with various NBFCs (non banking financial companies) were also operating multiple suspicious loan/other apps such as Cashhome, Cashmart, Easyloan etc. and they indulge in receiving funds from public on pretext of operating these apps (mobile applications),” the federal agency said in a statement.

The app-based token under investigation in this case is HPZ and the entities whose funds have been frozen under the anti-money laundering law include Comein Network Technology Private Ltd, Mobicred Technology Private Ltd, Magic Data Technology Private Ltd, Baitu Technology Private Ltd, Aliyeye Network Technology India Pvt Ltd, Wecash Technology Private Ltd, Larting Private Ltd, Magic Bird Technology Private Ltd and Acepearl Services Private Ltd.

“Account balances worth Rs 9.82 crore of various Chinese-controlled entities maintained with payment gateways, in respect of an investigation relating to the misuse of app-based token named HPZ and other similar applications by several entities, have been frozen,” the ED said.

The Enforcement Directorate had earlier this month undertaken a similar operation and frozen funds worth Rs 46.67 crore. These funds were stated by the agency to be belonging to certain merchant entities and held in payment gateways like Easebuzz, Razorpay, Cashfree and Paytm.

These companies had said that the funds did not belong to them and they were extending full cooperation to the ED in this investigation.

HPZ was an app-based token which promised users of large gains against investment by declaring the same as investing in mining machines for Bitcoin and other cryptocurrencies .

“The modus-operandi of the fraudsters was to first lure the victims to invest in their companies on the pretext of doubling /multiplying their investment through the HPZ token and other similar applications,” the agency said.

The money laundering case stems from an October, 2021 FIR filed against the accused company and its linked persons by the cyber crime unit of the Kohima Police in Nagaland.

42 COMMENTS

  1. can i purchase cheap clomid without a prescription where to get generic clomid tablets where can i buy generic clomid clomid for sale uk where buy generic clomiphene where to buy cheap clomiphene pill where to get generic clomiphene

  2. You can shelter yourself and your ancestors by being heedful when buying prescription online. Some pharmacy websites operate legally and sell convenience, reclusion, bring in savings and safeguards as a replacement for purchasing medicines. http://playbigbassrm.com/es/

  3. Eure Abende könnt ihr im hoteleigenen Casino oder den Nachtclubs des Resorts verbringen. Ihr findet dort sowohl legere als auch gehobene Restaurants.

    Außerdem findet ihr in den Zimmern kostenfreie Pflegeprodukte und einen Safe,
    um eure Wertsachen sicher zu verschließen.
    Denn dort findet ihr alles was ihr braucht und das an nur einem Fleck.

    Praktisch jedes Hotel am Las Vegas Strip ist mit dem Taxi nur 10 bis 15 Minuten vom McCarran International Airport entfernt; die Fahrt kostet in der Regel ungefähr
    15 Dollar. Das MGM Grand befindet sich ungefähr in der Mitte der südlichen Hälfte
    de fünfeinhalb Kilometer langen Ansammlung von Hotel-Casinos, die als Las Vegas Strip bekannt ist, gegenüber vom New York, New York
    und direkt nördlich vom Tropicana. Es lohnt sich, die Preise mit
    denen im Mandalay Bay zu vergleichen, das ein ähnlich breites Spektrum bietet, jedoch in einer weniger
    begehrenswerten Umgebung.
    Das im japanischen Stil gehaltene Wellnesscenter bietet neben verschiedenen Massagen auch Air-Bräunung, Gesichtsbehandlungen, Maniküre und Pediküre an. Nach einem Abend am
    Spieltisch bietet sich der Club Hakkasan zum ausgiebigen Feiern an.
    Moderne Hotelzimmer, einen riesigen Wellnessbereich, das größte Casino der Stadt, zahlreiche
    Restaurants, Cafés und Bars.

    References:
    https://online-spielhallen.de/lemon-casino-erfahrungen-ein-umfassender-uberblick/

  4. 🎮 The touch interface of Plinko casino deserves
    special praise! Whether you’re waiting for a bus or relaxing at home, this brilliantly optimized mobile version ensures you never miss a moment of
    Plinko action. With Hacksaw Gaming’s impeccable attention to detail and fair play mechanics,
    you can dive into the action with complete confidence. Every
    drop is a new adventure, every bounce a moment of possibility.
    Don’t just read about it – experience the thrill!
    Each player, regardless of experience is guaranteed a good
    mood and vivid emotions! It is important to choose a reliable casino, for fair play and guaranteed winnings without delay.

    The amount of your winnings and the coefficient
    of increase in your bet depends on the cell in which the ball
    hits. Managing deposits and withdrawals effectively is a crucial part of any online casino experience.
    The Plinko casino game is an online adaptation of the classic game from the popular TV show The Price is Right.

    References:
    https://blackcoin.co/the-match-game-rules-wins-and-popular-strategies/

  5. It’s also advisable to stick to well-known, established casinos
    with a good reputation in the industry. Some casinos also accept Australia-specific options
    like POLi. The legality of online gambling in Australia
    is nuanced.
    Wolf Gold offers 96.01% RTP, Sweet Bonanza gives 96.48%,
    and Aviator boasts 97% RTP. Jokery Casino and Millioner have pokies with 96%+ RTP rates, giving you better winning chances.
    This is due to internal risk policies and compliance with gambling laws.

    You can use the bonus money to play and meet the wagering requirements,
    but when you request a withdrawal, the bonus amount is deducted from your total balance.
    These bonuses often offer higher match percentages, bigger maximum bonus
    amounts, and exclusive perks. Cashback bonuses refund a percentage of your
    net losses as bonus cash over a specified period, giving you a second
    chance to play and win. Free spins are awarded on specific casino games, each spin valued at the minimum bet (e.g., $0.10).

    References:
    https://blackcoin.co/ggbet-casino/

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Must Read

spot_img