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Updated Dec 24, 2020 · 06:26 pm
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AFP
The Hyderabad and the Cyberabad police have arrested 17 people in connection with an app-based instant microloan lending scam,
The Hindu reported on Wednesday. The police arrested 11 people from Delhi and Gurugram, six others from Hyderabad, and also registered 23 cases against the instant loan companies.
The scam came to light after three people killed themselves in the past few weeks following alleged harassment from the debt collectors of these companies. The Hyderabad police then conducted raids in Hyderabad and Gurugram and arrested the officials of Liofang Technologies Private Limited, Hotful Technologies Private Limited, Pinprint Technologies and Nabloom Technologies Private Limited. All these companies are registered in Bengaluru. ....

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