On  Wednesday ten persons including Chinese and Taiwan  nationals were arrested  on  a Rs. 903 crore money laundering case. They had duped a Hyderabad resident . The names of the ten accused  are  Sahil Bajaj, Sunny alias Pankaj, Virender Singh, Sanjay Yadav, Navneeth Kaushik, Mohammad Parvez, Syed Sultan and Mirza Nadeem Baig, besides Chinese national Lec alias Li Zhounjau and Taiwan national Chu Chun Yu. These names were released by Police Commissioner Anand in a press conference.  A Tarnaka based man said he was cheated after investing 1.6 lakh  in a mobile investment application called Loxam . So a case was booked based on this complaint  said the Police Commisssioner. “On investigation, it was found that the money of the complainant was deposited in the bank account of IndusInd Bank in the name of Xindai Technologies Pvt Ltd, which was opened by Virender Singh,” Anand said. During interrogation arrested Singh from Pune said he got the user name and password of the internet banking account. A Chinese national named Jack had given him instructions related  to opening the bank account and login credentials. Further investigations revealed that the same credentials has been shared by other companies. The account details ,ID and password have been sent to other countries by all those involved in the racket. “Using their agents like Sanjay Yadav, Virender Rathor, Sultan, Nadeem Baig and others, these Chinese and Taiwan nationals operated bank accounts in various banks in India and collected deposits from gullible customers. These agents, in turn, were paid commission up to ₹1.2 lakh per account,” Anand said.  Police said a large amount of money has been sent to foreign exchange companies gained by this modus operandi.


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