Uttarakhand STF has exposed a big racket by arresting Abhishek Agarwal, the mastermind of the interstate cyber fraud gang, from Indira Gandhi International Airport in Delhi. The accused is a chartered accountant by profession and in connivance with Chinese citizens, he has carried out a fraud of more than Rs 750 crore in India.

Interrogation has revealed that Abhishek had formed 35 to 40 shell companies, of which 13 were registered in his own name and 28 in the name of his wife. Chinese citizens were co-directors in many companies. Suspicious transactions have taken place in many bank accounts through these companies.

Fraud through fake loan apps

Abhishek Agarwal and his associates started fake loan apps like Inst Loan, KK Cash, RupeeGo, Lendkar etc. in India in 2019-20 in connivance with Chinese citizens. Through these apps, common people were lured into downloading the app by promising quick loans. After this, their phone access was taken and their gallery, contacts and personal data were stolen.

The gang threatened the victims to morph their pornographic photos and make them viral, due to which people sent money repeatedly. Abhishek did this fraud in an organized manner and the money was sent to Chinese bank accounts. A connection with Ankur Dhingra, an accused already arrested in the case, has also come to light.

The STF has so far got the names of 5 Chinese masterminds, including Difan Wang, Zhenbo He, Miao Zhang, Yongguang Kuang and Wenxue Li. Further action is being taken by contacting Interpol and the Government of India.