Indian authorities seize assets worth $488,000 from a Chinese loan scam group linked to illegal activities.

The Enforcement Directorate (ED) in India has attached assets worth Rs 3.72 crore ($488,000) linked to Chinese national Xue Fei and associates under anti-money laundering laws. The group operated loan apps charging high interest rates, threatened borrowers, and facilitated illegal activities like gambling and prostitution in exclusive hotels and clubs for Chinese nationals in India. The total assets attached in this case now amount to Rs 17.23 crore.

November 12, 2024
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