On the request of the Economic Offence Wing (EOW) Odisha, a look out circular was issued against Chinese national Guanhua Wang, one of the main accused in a online ponzi scam, an official said here on Monday.<\/p>\n
On the request of the EOW Odisha, Bureau of Immigration (BOI), the Union Ministry of Home affairs, has issued the Look out circular.<\/p>\n
Guanhua (40) is wanted in 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 and crypto-traders, said the EOW official.<\/p>\n
Originally from China’s Hangzhou city, he formed a company called Bettec Technologies Private Limited in 2019 based in Dickenson Road, Bengaluru.<\/p>\n
He also controls at least two other Bengaluru-based companies — Gamecamp Solutions Private limited and Byrontec Technologies Private Limited, through his mule directors.<\/p>\n
During initial investigation, the EOW found that the accused had siphoned more than Rs 100 crore through his company.<\/p>\n
It has frozen around Rs 70 lakh from his company\u2019s account.<\/p>\n
The Financial Intelligence Unit has been requested to provide details of its other accounts, informed the official.<\/p>\n
The Chinese national visited India six times in 2019 and 2020, mainly Bengaluru.<\/p>\n
After that he is running this scam from China with the help of many India based associates.<\/p>\n
Guanhua\u2019s Indian associates are managing the mule bank accounts, shell companies and crypto-traders, WhatsApp\/Telegram group tutors and also running advertising using the morphed photos of celebrities.<\/p>\n
To lure the investors, these scammers are using the morphed photographs of big celebrities like Amitabh Bachhan, Mukesh Ambani, Ratan Tata, Sachin Tendukar, Technical Guruji (YouTuber), among others.<\/p>\n
The EOW officials informed that the scamsters also use the logo of big companies like Tata to mislead\/ impress people on various social media platforms like Instagram, YouTube etc.<\/p>\n
The total transactions in the above suspected bank accounts are of more than Rs 1,000 crore, sources said.<\/p>\n
During the last one year, EOW Odisha has found that at least in three cases including the above case of cyber-financial cases involving frauds of hundreds of crore rupees being run by Chinese nationals.<\/p>\n
Look out circulars have been issued in all such cases. Incidentally all of them had their office\/linkages in Bengaluru.<\/p>\n