Accused in nexus with Chinese nationals swindled ₹25 croreTwo persons, allegedly hired by Chinese nationals, have been arrested in connection with an international online cheating scam. They used to allegedly induce people to invest online in wine and spice market and cheated people of ₹25 crore, police said on Wednesday. During investigation, it was revealed that Karmanchi created at least 10 different companies whose bank accounts were used by Chinese nationals. He was in touch with them and was working as dummy director in an online short-term loan company whose real owners are Chinese nationals, the DCP said, adding that Karmanchi used to work on the directions of Chinese nationals. Police said the accused used to ask victims to invest only a small amount and gave good returns in less than one week.

Source: The Hindu July 07, 2021 19:18 UTC