Lookout circular issued against Chinese national in mobile loan app scam
Bhubaneswar (Odisha) [India], July 13 (ANI): On the request of the Economic Offences Wing (EOW) of Odisha Police, the Bureau of Immigration (BOI) has issued a lookout circular against Liu Yi, a Chinese national and main accused in a mobile loan app scam, police said on Tuesday.
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“EOW has booked Liu Yi under various sections of IPC & Section 66 D of IT Act. He used to run many illegal mobile loan apps like KOKO Loan, JOJO Loan, Golden Lightning Loan, Silver Kredit Loan, Gold Cash loan, Speedy rupee Loan, Xpress credit Loan & others,” said JN Pankaj, DIG, EOW.
It is worth mentioning that in one APP alone there are more than 1.5 lakh downloads. It is suspected that they have cheated/ extorted lakhs of people across the country particularly targeting lower-middle-class people in the need of small loans, especially during the difficult times of COVID.
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He started his illegal business in India in 2019 from Bangalore. His parent company was Jianbing Technology in Hangzhou China. He is the director of Omlette technology private limited but indirectly controls or owns companies including IWT India, Ocean trading, Yellow Tune Technologies private limited and Techlite…
