The Enforcement Directorate seized recovered shares worth Rs 60 crore and cash worth Rs 23 lakh during the search operations in connection with a money laundering case, the agency said. The agency said its Patna Zonal office conducted search operation at 13 locations in Delhi, Gurgaon, Kolkata, Jaipur, Nagpur on 3.12.2024.
During the search , various incriminating documents, digital devices, shares worth Rs 60 Crore, unexplained Forex worth Rs. 16 Lakh (approx.) and Rs. 23 Lakh (approx.) cash have been recovered and seized,” the agency said in a post on X.
Meanwhile,the ED seized cryptocurrency worth Rs 1.36 crore (USDT) from private wallets, along with unexplained cash amounting to Rs 47 lakh, during an investigation into a major money laundering case. The case pertains to cyber fraud involving illegal proceeds of approximately Rs 640 crore, generated through betting, gambling, part-time job scams, and phishing operations. The ED also recovered various incriminating documents linked to the fraud during its crackdown.
The recovery followed a search operation conducted by the federal agency on November 28 to November 30 at 13 premises in Delhi, Gurugram, Jodhpur, Jhunjhunu, Hyderabad, Pune and Kolkata under the provisions of Prevention of Money- laundering Act (PMLA), 2002. “The search resulted into recovery of various incriminating documents, cheque books, ATM cards, PAN Cards, Digital Signatures, Trust Wallet Secret Phrases and seizure of unexplained cash amounting to Rs 47 lakh. Further crypto (USDT) worth Rs. 1.36 crore has been seized from private wallet and various bank accounts have been frozen,” ED said in a statement.
ED initiated investigation on the basis of two First Information Reports (FIRs) registered by Central Bureau of Investigation’s Economic Offences Wing, Delhi with respect to cyber fraud money to the tune of Rs 640 Crore generated through betting, gambling, part time jobs and phishing scams being siphoned off by way of layering through more than 5000 mule Indian bank accounts and subsequently uploaded on “PYYPL”, a UAE based payment platform.
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