KOCHI: Enforcement Directorate (ED) sleuths have arrested four Tamil Nadu natives over their links to China-based bogus loan apps, after a probe revealed the shell companies operated by them transferred over Rs 170 crore to their Chinese operators via Singapore since 2023.

The money swindled from victims of the bogus apps from across the country was sent through hawala networks and as cryptocurrency, the sleuths said.

The arrested persons are Daniel Shivakumar, 37, director of Xoduz Solution in Jawahar Nagar, Chennai; Kathiravan Ravi, 42, director of Future Vision Media Solutions in Mudichur, Kancheepuram; Anto Paul Prakash, 32, proprietor of Global Exposition and Infomedia Solution in Alandur, Kancheepuram; and Allen Samuel, 29, director of Aprikiwi Solutions in Alandur, Kancheepuram.

“One of the shell companies received Rs 115 crore in its bank account, of which Rs 110 crore was transferred to another account in Mumbai, and later sent to Singapore. Another shell company received around Rs 58 crore, of which Rs 50 crore was channelled to China and Singapore,” said a source.

Suspects arranged over 470 mule accounts by paying Rs 5,000 for each

Last February, ED had registered a case of money laundering based on multiple FIRs lodged at various police stations in Kerala by victims of the bogus loan apps.

Soon after, the central agency it raided the house of Raphael James Rozario, a Vypeen resident who allegedly made available mule bank accounts for depositing the money from the scam victims.