A BBC investigation has exposed scammers using #LoanApps to entrap and blackmail people across India. The scam has been linked to more than 60 suicides since 2020. But how does it work? And who is making money from misery, fear, and shame? #BBCEye goes undercover #TheTrap

Most victims are too ashamed to talk. But this woman, Bhoomi Sinhaa, was brave enough to tell us her story. Her nightmare illustrates exactly how the loan app scam works—and how devastating it can be for those caught in the trap.

In 2021 Bhoomi borrowed money to help with a family crisis. The cash seemed like a lifeline. What she didn’t know is that some #LoanApps harvest the most personal data on your phone — photos, contacts, messages. That’s when the extortion begins.

Bhoomi moved from app to app, taking one loan to pay another. Eventually she paid them off. But one app, Asan Loan, kept calling. They were threatening to humiliate her.. And it was not an empty threat… [🔊sound on]

Asan Loan had photoshopped Bhoomi’s face onto this pornographic image and sent it to *every* contact on her phone. In an instant, Bhoomi felt her life had been destroyed. Only the thought of her daughter stopped her from suicide. [🔊sound on]

It was hard to find a victim willing to talk. It was even harder to find a perpetrator. But eventually we got in touch with a young guy who used to work inside loan app call centres. Rohan (not his real name) told us exactly how #LoanApps use abuse and shame to recover debt.

We asked Rohan if he would wear a secret camera and take us inside one of these call centres. Within weeks he landed a job at Callflex Corporation, which recovers money for loan apps. Calls are polite at first. But if you don’t pay, things turn nasty… [🔊sound on]

These are not rogue agents. They are supervised and directed by managers, including one called Vishal Chaurasia. Posing as investors, we set up a meeting with Chaurasia. He told us exactly how the scam works… [🔊sound on]

Rohan had helped expose systematic abuse in call centres. But we still wanted to know who had abused Bhoomi, the mother driven to the edge of suicide. The app that harassed her was called Asan Loan, but we could find no name or address.

Eventually we tracked down the man behind Asan Loan: an Indian called Parshuram Takve. Parshuram had a Facebook page, and a Chinese wife called Liang Tian Tian.

Takve and Liang had disappeared. But in Pune, we tracked down someone who used to work in Takve’s loan recovery centre. Abuse and blackmail was routine, he told us. Customers often said they were going to kill themselves. Takve didn’t care. [🔊sound on]

Then the suicides began. We asked this man if Takve knew about the suicides… [🔊sound on]

In Telangana, we found the father of a young woman who killed herself after being abused by loan apps—including one for which Takve did loan recovery. Mounika was a graduate with a government job. She was bright & happy, a beloved sister and daughter from a close-knit family.

In 2022, Telangana police investigating Mounika’s death charged Parshuram Takve and Liang Tian Tian with extortion, intimidation, and abetment of suicide. They are on the run.

But behind Takve and Liang, we found a scam that extends far beyond India. [🔊sound on]

To recap: a Chinese businessman, Li Xiang, set up or supported predatory loan apps in India. They routinely used customers’ contact lists to frighten or shame people into repayment. But who is Li Xiang? And where is he? The money trail led to one city: Hong Kong.

Here we found a phone number linked to one of Li Xiang’s employees. Again posing as investors, we asked if he could set up a meeting with Li Xiang.

Li Xiang was happy to talk about his fintech and loan app businesses in India. One of the first things he said was that his companies don't pay taxes and are not compliant with local laws.

Back in 2021, two of Li Xiang’s companies had been raided by Indian police investigating complaints of abuse by loan apps. Their bank accounts had been frozen. Now, Li Xiang told us he was “still operating” in India but “not letting Indians know we are a Chinese company”.

Then Li Xiang made the key admission: his companies harvest customers’ contacts and use them to recover loans.

Finally, we had a face for Li Xiang, and evidence that he was profiting from the misery of ordinary people. Takve used extortion, shame, and fear to recover money. At least some of that money ended up in the accounts of this man.

We put these allegations to Li Xiang. This is a summary of his response -

We also asked for a response from Parshuram Takve, Liang Tian Tian, Asan Loan, and Callflex Corporation. They did not respond. Vishal Chaurasia said he did not wish to comment.

Asan Loan is still online. But in Mumbai, Bhoomi is starting to rebuild her life. [🔊sound on]

You can watch the full documentary in English here. ⬇️ Please share as widely as possible: this film can save lives. #LoanApps #TheTrap #BBCEye

You can also watch it in Hindi here⬇️

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