Hyderabad: Chinese Man Arrested For Running Rs 1,100 Crore Illegal Gambling Racket For China Based Company

A Chinese man has been arrested for running a Rs 1,100 crore illegal gambling racket in India for a China based company, Times of India has reported.

The arrest was made by the Hyderabad police in Delhi where the Chinese man was nabbed along with three of his Indian associates following a complaint by two Hyderabad men who lost Rs 1.64 lakh and Rs 97,000 while gambling online.

The accused have been booked under sections of the IPC pertaining to cheating and conspiracy.

The Chinese man identified as Yah Hao is believed to be the Southeast Asian head of operations for the Beijing T Power Company. Various subsidiaries of the companies were organising online gambling with a toral transaction value of Rs 1,100 crore. Most of its transactions took place during the lockdown period.