Loan app scam: Police suspect stolen money was transferred to bank accounts in US

THIRUVANANTHAPURAM: Police suspect that the North Indian gang, which allegedly ran a fake call centre in Thiruvananthapuram and cheated Americans through a loan app scam, transferred the stolen money to bank accounts in the United States. Investigators believe the gang avoided transferring the money to Indian bank accounts, as repeated dollar transactions could attract the attention of US authorities. Police suspect the funds were instead transferred to bank accounts in the US.

The main accused, identified as Gujarat native Parth Rana, was arrested early Tuesday from Allahabad Airport. Police said he escaped from Thiruvananthapuram Airport and travelled to Allahabad via Mumbai to evade arrest. He will be produced before a court in Allahabad to obtain a transit warrant and is expected to be brought to Thiruvananthapuram by Wednesday.

Police believe questioning Rana will reveal more details about the scam. Since the case has international links, there are indications that the investigation may be handed over to the CBI. However, the alleged mastermind, Ashdeep Chaudhary from Uttar Pradesh, is still absconding. Of those arrested earlier, 11 have been remanded in judicial custody. The remaining seven people who were detained were released after police found no evidence linking them to the fraud.

The fake call centre was operating from a rented commercial building at Pavizham Homes near Iris Hospital in Pongumoodu.

Server yet to be accessed

City Police Commissioner Dr Arul R.B. Krishna said investigators have not yet been able to determine the total amount of money involved in the scam. Police have also been unable to access the computer that served as the call centre's main server. Investigators believe the system is protected with security features that automatically erase data if an incorrect password is entered.

Police said the server was used by the alleged mastermind, Ashdeep Chaudhary, and handled the financial transactions linked to the scam. DGP Ravada A. Chandrasekhar said two more suspects who managed to escape would be arrested soon. State Home Minister Ramesh Chennithala congratulated City Police Commissioner Dr Arul R.B. Krishna for leading the investigation that uncovered the fraud.