💨 Abstract

The Enforcement Directorate has arrested four men for their role in a money laundering scam involving Chinese-controlled loan apps. The suspects allegedly collected over Rs 230 crore from more than 400 mule accounts in India, which were then transferred to Singapore via companies controlled by them. The case stems from complaints of extortion in the name of loan facilitation and blackmail for excess repayment.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖