Police claimed this stolen data was then used for blackmail and intimidation. Victims were “subjected to threats of photo morphing and public shaming if they failed to pay exorbitant interest rates, penalties, and fines, leading to immense mental harassment and financial extortion.”Authorities revealed the genesis of this expansive fraud network dates back to 2019–20, when Agarwal allegedly facilitated the entry of Chinese nationals into India to kickstart the operation. He himself travelled to Shanghai and Shenzhen in 2019, indicating deep international ties.This arrest follows previous significant actions in the same case. These include the apprehension of Ankur Dhingra, another alleged mastermind operating fake loan apps via Hector Lendkaro Pvt. Ltd., from Gurugram. In 2023, another resident of Gurugram was arrested, and a joint STF/Cyber team raided a call centre in Aurangabad, Maharashtra, recovering a ‘Simbox’ and other crucial evidence.Upon his arrest, authorities recovered a mobile phone, a passport, Thai and Indian currency, a power bank, digital devices, rings, and an Apple Watch from Agarwal. He was wanted in connection with numerous cases across multiple states.Speaking to , STF’s Senior Superintendent of Police Navneet Singh said, “This ongoing investigation, initiated in December 2022, targets organised national-level fraud through various fake loan apps, aiming to curb the harassment and illegal extortion faced by citizens across India.”Uttarakhand’s Director General of Police (DGP) Deepam Seth stated, “Uttarakhand is committed to making the state crime-free and will strive to curb cybercrime incidents more rigorously in the coming times.”
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