The sleuths of Cyber Crime PS, Cyberabad nabbed 6 members in connection with instant personal loan apps and loan apps operated are Cash Mama, Loan zone and Dhana Dhan and connected companies are 1) ONION CREDIT Private Ltd with Directors K. Sarath Chandra, K. Pushpalatha 2) CRED FOX Technologies Pvt Ltd with directors K Sharath Chandra, V Chaitanya.<\/p>\n
In this case, Investigation was taken up. The investigation revealed that the said operations were conducted from a building near Ratnadeep Super Market, Bio-diversity Jn where one company is found in the name of Onion Credit Pvt Ltd, having its proprietorship on the name of K. Sharath Chandra, CEO R\/o Hyderabad. The said building was raided & following persons were arrested:-<\/p>\n
A1. Konataham Sharath Chandra, R\/o. Kokapet Occp:CEO & Director of Onion Credit Pvt ltd & Cred fox technologies Pvt.ltd.<\/p>\n
A2. Smt Pushpalatha, Director of Onion Credit Pvt ltd & Cred fox Technologies Pvt.ltd.<\/p>\n
A3. B Vasava Chaitanya, Director of Cred fox technologies Pvt. Ltd.<\/p>\n
A4. B.Venkatesh, R\/o Chilkalguda, Secundrabad Occ: Collection agent<\/p>\n
A5. Sachin Deshmukh. R\/o Shilparamam, Hyderabad Occ: Collection agent.<\/p>\n
A6. Syed Ashiq. R\/o Street No:2, Gachibowli, Occp: Team leader.<\/p>\n
They developed their own apps in their office located in Raidurgam limits for maintaining the database of the customers and placed them in Google play store for easy download and available to customers. Both the companies, i.e., Onion Credit and Credfox Technologies designed mobile Apps namely \u2018Cash Mama\u2019, \u2018Loan Zone\u2019, \u2018Dhana Dhan Loan\u2019, \u2018Cash Up\u2019, \u2018Cash bus\u2019, \u2018Mera Loan\u2019 and \u2018Cash Zone\u2019. They Sold 2 Apps i.e., \u2018Cash bus\u2019 and \u2018Cash Up\u2019 to Asia Inno Networks Pvt. Ltd., Delhi and 2 Apps i.e., \u2018Mera loan\u2019 and \u2018Cash Zone\u2019 to Blue shield Fintech Pvt. Ltd., Bangalore. They are operating three apps, out of these \u2018Cash Mama App\u2019 is linked to Onion Credit company and two other apps namely \u2018Dhana Dhan Loan\u2019 and \u2018Loan Zone\u2019 to Credfox Technologies. Both the companies have 1.5 lakh customers and about 70 thousand active customers at present.<\/p>\n
\n\u201cDhana Dhan\u201d application is not linked with any NBFC whereas \u201cCash Mama\u201d and \u201cLoan Zone\u201d mobile applications have tie up with (9) NBFCs namely:<\/p>\n
a.Superior Finlease Limited, New Delhi (Loan Zone)<\/p>\n
b.Lord Krishna Financial Services, New Delhi (Cash Mama)<\/p>\n
c.Usha Financial Services Pvt.Ltd., New Delhi (Cash Mama)<\/p>\n
d.i2i Technologies (RNVP Technologies Pvt. Ltd.,), Gaziabad, New Delhi (Cash Mama)<\/p>\n
e.Zavron Finance Pvt. Ltd., Nagpur (Cash Mama)<\/p>\n
f.UMB Securities Limited, Bangalore (Loan Zone)<\/p>\n
g.Fair Assets Technologies India Pvt. Ltd., (Faircent), New Delhi (Cash Mama)<\/p>\n
h.Liqui Loans (NDX P2P Pvt.Ltd.,), Mumbai (Cash Mama)<\/p>\n
i.KRAZYBEE Services Pvt. Ltd., Bangalore (Cash Mama) which are listed in RBI.<\/p>\n
Advisory to general public:<\/p>\n
-Don\u2019t download any Insta Loan Apps from Play store or other source which are not having proper licences from Government authorities.<\/p>\n
-Don\u2019t give your personnel and bank credentials to anyone.<\/p>\n
-Please go through the terms and conditions and verify the licences of the companies whoever offering loans, whether they obtained permission from the concerned authorities like RBI, District Collector.<\/p>\n
-Don\u2019t download any App who asks to give access to the contacts, files, Gallery.<\/p>\n","protected":false},"excerpt":{"rendered":"
The sleuths of Cyber Crime PS, Cyberabad nabbed 6 members in connection with instant personal loan apps and loan apps operated are Cash Mama, Loan zone and Dhana Dhan and connected companies are 1) ONION CREDIT Private Ltd with Directors K. Sarath Chandra, K. Pushpalatha 2) CRED FOX Technologies Pvt Ltd with directors K Sharath […]<\/p>\n","protected":false},"author":3,"featured_media":207792,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2],"tags":[32935,71538,105344],"class_list":["post-207791","post","type-post","status-publish","format-standard","has-post-thumbnail","category-top-stories","tag-cyber-crime","tag-frauds","tag-loan-apps"],"jetpack_featured_media_url":"https:\/\/greattelangaana.com\/english\/wp-content\/uploads\/2020\/12\/fraud.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/greattelangaana.com\/english\/wp-json\/wp\/v2\/posts\/207791","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/greattelangaana.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/greattelangaana.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/greattelangaana.com\/english\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/greattelangaana.com\/english\/wp-json\/wp\/v2\/comments?post=207791"}],"version-history":[{"count":0,"href":"https:\/\/greattelangaana.com\/english\/wp-json\/wp\/v2\/posts\/207791\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/greattelangaana.com\/english\/wp-json\/wp\/v2\/media\/207792"}],"wp:attachment":[{"href":"https:\/\/greattelangaana.com\/english\/wp-json\/wp\/v2\/media?parent=207791"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/greattelangaana.com\/english\/wp-json\/wp\/v2\/categories?post=207791"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/greattelangaana.com\/english\/wp-json\/wp\/v2\/tags?post=207791"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}