HYDERABAD: Taiwanese national Chu Chun-Yu, ringleader in the Rs 903-crore multi-country investment fraud who was arrested by the Hyderabad cybercrime police last week, was initially in the business of developing apps for gaming, betting, and investment. For this, he was earning up to $3,000 per month. As part of his job, the 30-year-old flew frequently between India and Cambodia, as well as other Southeast Asian countries.
During one of his trips to Cambodia, police said, he reportedly met a Chinese woman named Huan Zhuan. Huan offered him $4,000 per month in exchange for his services. She paid him $5,000 as a 'gift' before he could give her confirmation to work for her.
Huan and her associate Pei, both Chinese nationals who run JInping ventures in China, were the masterminds behind this multinational investment fraud racket, police alleged. The agents who worked for the duo had no knowledge of their colleagues.
Police said Chun-Yu lives in a plush apartment in Powai, Mumbai, from where he ran web agents for Chinese nationals. When he agreed to work for Huan, he was told that her agent Lec alias Li Zhongjun was already in Delhi and that he would have to collaborate with him in expanding their business.
“Initially, he was hesitant to accept Huan’s offer of $4,000 per month because he was content with his earnings and did not want to take a risk for a little more. But after she gave him $5,000 even before he could give her a confirmation, he thought this is more lucrative and he can make big money in a short time and jumped on the bandwagon,” police said.
Lec, who was arrested on Wednesday last, arrived in India prior to the Covid-19 pandemic and began selling mobile accessories in Karol Bagh in New Delhi. Due to the pandemic, he suffered losses and lost his job, when Huan enticed him to work for the scamsters.
Iin January 2022, he was arrested by the Delhi police for overstaying his visa and was imprisoned. He was released on bail but was taken to the Intelligence Bureau's detention centre, where he was arrested by the city police.
