This story is from October 13, 2022
Chinese, Taiwanese among 10 held for app investment fraud
HYDERABAD: A Chinese man and a Taiwanese national were among 10 people arrested over the past few days for funnelling money abroad through a fraudulent app-based Chinese investment scheme that promised high returns, Hyderabad police said Wednesday.
Investigators discovered the racket digging deep after a city resident complained a few months ago that he was robbed by online fraudsters. He had invested Rs 1.6 lakh through the LOXAM app. He realised he was duped when the app became inaccessible.
Investigators discovered the racket digging deep after a city resident complained a few months ago that he was robbed by online fraudsters. He had invested Rs 1.6 lakh through the LOXAM app. He realised he was duped when the app became inaccessible.
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