Odisha STF issue advisory on Online loan apps fraud
Hence, on the failure of repayment of the loan, the consequences have to be borne not only by the customer but also by their family members and friends/contacts.
Hence, on the failure of repayment of the loan, the consequences have to be borne not only by the customer but also by their family members and friends/contacts.
The Economic Offence Wing (EOW) of Odisha police has frozen over Rs 6.57 crores of the bank deposits of a dubious company that deceived the people with a fake loan App.
The accused Dillip Kumar Jain, one of the directors of Inter Ocean Videsh Limited was arrested in Bareilly. He is brought under remand to Odisha after a local court in Bareilly allowed the transit remand.
The money laundering case dates back to 2012. The fraudster, who had floated the bogus finance company, had cheated investors in the name of providing long-term loans at low rates of interest.
