The Bureau of Immigration has issued a look out circular (LOC) against Liu Yi, a Chinese national, for his alleged involvement in running an illegal digital loan mobile app case in India.
Mr. Yi is the main accused in the case that’s being investigated by the Economic Offences Wing (EOW), Bhubaneswar, which requested the Bureau of Immigration to issue the LOC against the accused.
“Mr. Yi used to run many illegal digital loan apps in India such as KOKO Loan, JOJO Loan, Golden Lightening Loan and Silver Kredit Loan. Investigation revealed that there are more than 1.5 lakh downloads of one app alone. It is suspected that they have cheated and extorted lakhs of people across the country, particularly targeting lower middle class people in the need of small loans, especially during the difficult time of the COVID pandemic,” Jai Narayan Pankaj, Deputy Inspector General (DIG) of Police, EOW, said.
