By Biswanath Dash
BHUBANE SWAR: Look On the request of Economic Offence Wing Odisha, Bureau of Immigration (BOI), Ministry of Home Affairs, and Government of India has issued LOC (Look Out Circular) against one Guanhua Wang, one of the main accused in mega online Ponzi scam.
This refers to EOW Case No.19/2023 U/s 419/420/467/468/471/120-B IPC,Sec.66-C & 66-D IT Act/ Sec 6 OPID Act related to a huge pan-India online Ponzi scaminvolving fraud and siphoning of hundreds of crores rupees out of India using a complex network of mule bank accounts, shell companies/ firms and Crypto-traders.
Guanhua Wang, age-40, is a resident of Flat No.202, number-199, Wensen Road, City- Hangzhou, District- Xihu, state- Zhenjiang of China. He formed a company called “Bettec Technologies Private Limited” in 2019 based in Dickenson road,Bangalore, India. He also controls at least two other Bangalore based companies through his mule directors-Game camp Solutions Private limited. Byrontec Technologies Private Limited. He visited India 6 times in 2019 and 2020 mainly Bangalore.
After that he is working/ running this scam from China with the help of many India based associates who look after the managing/ arranging of mule bank accounts, shell companies/ firm and Crypto-traders, whatsapp/ telegram group tutors/administrators and also runningAds using the morphed photos of celebrities. Initial investigations suggest siphoning ofmore than 100 crores by his company using above methods. EOW has frozen around 70Lakh from his company’s account. FIU (Financial Intelligence Unit) has been requestedto provide details of its other accounts.In last one year, EOW Odisha has found that at least in 3 cases (includingcurrent case) of Cyber-financial cases involving frauds of hundreds of crore rupees beingrun by Chinese national. LOC has been issued in all such cases. Incidentally all of themhad their office/ linkages in Bangalore.1. EOW Case No.09/2022- Illegal Loan Apps case- Two Chinese-Liu Yi2. EOW Case No.13/2022- (Illegal Loan Apps case)- three Chinese-Shen ZhenhuaQuan HongweiYang Haiying
Apart from this, in the recent case of siphoning of Rs.14 Crore by QR code manipulation, initial probe suggests that entire conspiracy was being run from China.
Odisha has further frozen around Rs 75 lakh of 14 different bankaccounts across India in a crackdown against the multiple online Ponzi ( MLMSchemes). Earlier EOW had frozen Rs.1.22 Crore in similar schemes/ Apps. Thereare multiple illegal Apps and websites available on internet which misleads peopleby running advertisement to multiply money within few days/ months but afterfew months these Apps close its operation/ Websites/ Apps.These bank accounts were linked to Apps like Dice, Quickwrummy, FlyAviator, Weonlinepro Three, MVP trader, Ft11, UNO, Forex Dana, Live 22 cash,Aviator X, City5, Homer Alexander etc. Together these Apps had 1.56 Crore +downloads. This refers to EOW case no 19/2023.In the fresh cases, it was found that these scammers are using themorphed photographs of big celebrities like Amitabh Bachhan, Mukesh Ambani,Ratan Tata, Sachin Tendukar, Technical Guruji ( famous You Tuber) etc., Theyalso use the logo of big company like Tata to mislead/ impress people on varioussocial media platform like instagram, YouTube etc.Earlier it was found that an App “Join trade- Financial growth” was usingthe morphed Pictures of leading Bollywood actors like Akshay Kumar andManish Paul, in order to mislead and instill trust in the Public.It was also found that there are some so called social media influencerswho use their accounts to promote these Apps/ scheme. Some TV stars/ smallcelebrities were found to be endorsing such social media influencers and theiradvice related to making quick money through these Online Ponzi Apps.
Most of the victims are from lower middle class including many students wishing to become rich in a very short span of time using theseshortcuts.it came to surface that the amount can only be deposited through UPI’ID’s reflected in the APP which keeps changing constantly each minute andsuch ID’s were linked to savings Bank and current accounts maintained in thename of many shell companies / firms and individual persons. The total transactions in the above suspected bank accounts are of more than 1000 Crores. However it is suspected that these accounts/ networking are also used in other cyber/financial crimes related to Online Ponzi Schemes, Illegal digital Loan Apps, Courier Scam, Sextortion, Work from home scam, YouTube liking scam, Rating scam etc.It has been noticed that these money are routed through very complex multi layering of various mule accounts and finally money is transferred out ofIndia using Crypto trade. Most of these scams are operated from or have links in Dubai, UAE .Advisory to people-1. Please don’t use these illegal earning Apps/ scheme.
These Apps are created and operated by Cyber-Financial scammers. Even if you initially get some money back ultimately you will lose huge money.2. Please do not refer/ forward the links to your friend/ relatives. You might get some referral bonus but in the end, both you and your friends will lose huge amount of money.3. It is quite possible that this money is being used in other cyber-crime andante-national activities. Please stay away from such Apps/ schemes.4. Never ever allow your bank accounts to be used/ controlled by others. Advisory to Social media influencers-1. Don’t promote such illegal earning Apps/ schemes directly or indirectly. Advisory to Celebrities-1. Don’t use your influence to promote such Apps/ schemes by recommending people to such social media influencers who promotes these illegal Apps/schemes.
