ED arrests four TN men for aiding Chinese loan app firms

KOCHI: The Enforcement Directorate (ED) has arrested four Tamil Nadu natives for their links to Chinese bogus loan apps after its probe revealed that the shell companies operated by these persons transferred over Rs 170 crore to the Chinese operators via Singapore in 2023.

It was in February 2024 that ED registered a money laundering case based on multiple FIRs registered at various police stations in Kerala against bogus loan apps.