Hyderabad: The money laundering racket through shell companies, formed by the Chinese citizens was busted just two days ago. Now, an online gambling racket operated by a Chinese gaming company in Hyderabad has been destroyed. Illegal transaction of a whopping ₹1.1 billion have been exposed and four people, including a Chinese citizen, have been arrested.
On Tuesday and Wednesday, the income tax department raided Chinese companies in Gurugram and Noida, about money laundering. This fake online gambling was exposed during this investigation. Police claimed that the turnover of this online gambling is ₹1.1 billion. The Hyderabad police have arrested three people including a Chinese citizen from Delhi under sections 420 and 120B of the Indian Penal Code and Telangana Gaming Act.
Yah Hao is the name of the Chinese citizen and he is the head of the Linkyun app. His three partners in crime, Dheeraj Sarkar, Ankit Kapoor and Neeraj Tuli are directors in the E-wallet company in Delhi. Linkyun app is a gaming app of the Chinese online gambling company Beijing T Power Company.
The server of the gaming company is located in China and the data hosting also was being controlled from China. The money received for this online gambling has been diverted to various accounts. Some of these accounts are in foreign countries. The police have frozen two such accounts. Two more arrests may be made in this connection.