ED arrests four Tamil Nadu natives linked to Chinese bogus loan apps

KOCHI: Enforcement Directorate (ED) sleuths have arrested four Tamil Nadu natives over their links to China-based bogus loan apps, after a probe revealed the shell companies operated by them transferred over Rs 170 crore to their Chinese operators via Singapore since 2023.

The money swindled from victims of the bogus apps from across the country was sent through hawala networks and as cryptocurrency, the sleuths said.