ED arrests two CAs, one crypto trader in ₹640-crore cyber fraud case
New Delhi, December 4, 2024
The funds were siphoned off through more than 5,000 mule Indian bank accounts and uploaded on PYYPL, a United Arab Emirates-based payment platform
The Enforcement Directorate has arrested two chartered accountants and a cryptocurrency trader in connection with a cyber fraud case involving ₹640 crore generated through betting, gambling, part-time job and phishing scams. The funds were siphoned off through over 5,000 mule Indian bank accounts and uploaded on “PYYPL”, a United Arab Emirates-based payment platform.
The chartered accountants have been identified as Ajay Yadav and Vipin Yadav, while the third accused is Jitendra Kaswan.
The arrests were made following searches at 13 locations in New Delhi, Gurugram, Jodhpur, Jhunjhunu, Hyderabad, Pune, and Kolkata, which also led to the seizure of documents, cheque books, ATM cards, PAN cards, digital signatures, trust wallet secret phrases and ₹47 lakh in cash, besides cryptocurrency worth ₹1.36 crore kept in a private wallet. Several bank accounts have also been frozen.
The ED probe is based on two First Information Reports (FIRs) registered by the Central Bureau of Investigation (CBI) alleging cyber fraud. A part of the ill-gotten money was withdrawn in cash in Dubai using ATM cards of Indian banks. The agency suspects that 15,588 card transactions were made.
During the investigation, the Central agency has also unearthed a nexus of certain chartered accountants, company secretaries (CS) and cryptocurrency traders in laundering the proceeds of alleged crime in a systematic manner.
“Further investigation has unearthed a large-scale money laundering racket operated with the assistance of handlers sitting abroad through closely held chat groups on instant messaging apps. Instructions regarding opening of mule accounts, cash circulation, and purchase of cryptocurrency are provided on this group account by the handlers. More than 2,000 documents detailing debit/credit transactions in hundreds of bank accounts and purchase of cryptocurrency have been seized and are being analysed,” it said.
The agency said during the search on the premises of main accused chartered accountant, Ashok Kumar Sharma, the ED team was attacked and prevented from entering the place. The Delhi Police have registered an FIR in this regard and arrested one of the assailants, Radhe Shyam Sharma, who is the brother of the absconding main accused.
[The Hindu]
