We, too, are victims here, claimed BricSpace, the Bengaluru-based co-working space that is under the Enforcement Directorate (ED) scanner over at least three fraudulent companies that floated loan-lending applications masterminded by Chinese nationals that trapped scores of Indians registered on their address.
The three companies under the ED scanner — Yellow Tune technologies, Mudmate technologies and Finroot Fintech Pvt Ltd — used the Bengaluru-based co-working space as their registry address, but their lease had expired in 01-03-2021, News18 has learnt.
Speaking to News18, an official from BricSpace claimed the government should put in place a thorough physical verification and vetting process. Companies approach co-working spaces with registered government documents such as PAN and Aadhaar cards and GST number. “As a business which rents out spaces to companies, we have to collect the documents and draw up an agreement. How can we verify a PAN or Aadhaar card,” asked a BricSpace official.
As an impact of News18 investigative series on the Chinese loan app scam, involving as many as 1,000 illegal companies operating in India and trapping scores, the government began conducting massive raids and searches in Bengaluru, Hyderabad and Gurugram. The News18 series highlighted how these companies were registered illegally under one address and their company representative was never found on the office premises.
35 COMPANIES MISUSING ADDRESS?
The co-working space…
