ED raids in 260 crore fraud case cause panic and action in three states, including Delhi-NCR
In the big case of fraud of 260 crores in three states, including Delhi-NCR, ED's raids have created a stir as it has tightened its grip on properties worth crores.
National News: The Enforcement Directorate (ED) on Wednesday raided 11 places in Delhi, Uttar Pradesh, Haryana, and Uttarakhand, tightening the noose on an international cyber fraud network. This fraud is said to be worth Rs 260 crore, in which Indian and foreign citizens have been targeted. ED took this action under the Prevention of Money Laundering Act (PMLA) on the basis of FIRs of Delhi Police and CBI. Raids were conducted in Delhi, Noida, Gurugram, and Dehradun. The accused threatened to arrest people by posing as investigating officers or police and duped people by posing as tech support agents (Microsoft and Amazon).
Network of fraud through cryptocurrency
The accused first converted the victims' money into cryptocurrency and then sent it to different wallets. According to the Enforcement Directorate, bitcoins worth about Rs 260 crore were converted into cash by converting them into USDT through hawala operators in the UAE. Earlier on June 26, the CBI conducted raids in Mumbai and Ahmedabad and arrested the mastermind of the gang, Prince Jashwantlal Anand, who was involved in duping US and Canadian citizens.
Fake notices and threats of digital arrest
The modus operandi of the gang was extremely professional. The accused used to send fake notices in the name of government officials and threatened legal action. On June 25, ED also conducted raids in Gujarat and Maharashtra in connection with a cyber fraud case of Rs 100 crore. The main accused are Maqbool Doctor, Kashif Doctor, Basam Doctor, Mahesh Desai, and Maj. Abdul Rahim Nada, who defrauded people through USDT scams, fake notices, and arrest threats.
