The Enforcement Directorate has attached properties worth ₹13.58 crore in a money laundering case involving a Chinese national, who allegedly stayed in India illegally, and his associates. Xue Fei, the Chinese national, and his accomplices had allegedly opened hotels and clubs in the National Capital Region for fellow Chinese citizens, particularly those who entered and stayed in the country illegally without valid documents. The attached assets are in the form of bank balance, fixed deposits, immovable properties, and insurance policies beneficially owned by Ravi Natvarlal Thakkar and others, the agency said on Thursday. They, in connivance with each other, opened multiple paper companies having puppet/dummy directors and were operating various instant loan apps like Rupee Plus, Lucky Wallet, Flash Paisa, Paisa Karo, Hi Paisa, Radha Money, etc. The accused used to get the personal data of borrowers and used it to blackmail and threaten them in the guise of loan recovery.

Source: The Hindu June 13, 2024 20:10 UTC