Bhubaneswar: On the request of the Economic Offence Wing Odisha, the Bureau of Immigration (BOI), Ministry of Home Affairs, Govt of India has issued LOC (Look Out Circular) against a Chinese national, 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 scam involving 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—Gamecamp Solutions Private Limited and Byrontec Technologies Private Limited., through his mule directors.
Wang visited India 6 times in 2019 and 2020 mainly Bangalore. After that, he is 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/firms and Crypto-traders, WhatsApp/ Telegram group tutors/administrators and also running Ads using the morphed photos of celebrities.
Initial investigations suggest siphoning off more than 100 crores by his company using the above methods. EOW has frozen around 70 Lakh from his company’s account. FIU (Financial Intelligence Unit) has been requested to provide details of its other accounts.
In the last one year, EOW Odisha has found that at least in 3 cases of Cyber-financial cases involving frauds of hundreds of crore rupees are being run by Chinese nationals. LOC has been issued in all such cases. Incidentally, all of them had their office/ linkages in Bangalore.
- EOW Case No.09/2022- Illegal Loan Apps case- Two Chinese-Liu Yi & Xin Peng
- EOW Case No.13/2022- (Illegal Loan Apps case)- three Chinese-Shen Zhenhua, Quan Hongwei & Yang Haiying
Apart from this, in the recent case of siphoning of Rs.14 Crore by QR code manipulation, the initial probe suggests that the entire conspiracy was being run from China.
