E-Paper
Haryana: Ambala digital fraud: ED freeze assets worth ₹22 lakh
The probe also led to the discovery of immovable properties worth ₹3 crore that were acquired in the name of the family members of the accused, the agency said.
The ED conducted searches at multiple locations in Haryana and Chandigarh in connection with a case where some accused opened funds receiving accounts on global crypto currency exchange Binance and “cheated” investors by operating a “fraud” online platform.
The central agency on Tuesday said that assets worth ₹22.38 lakh were frozen and ₹4 lakh cash seized.
The probe also led to the discovery of immovable properties worth ₹3 crore that were acquired in the name of the family members of the accused, the agency said.
The raids were conducted by the agency’s Chandigarh Zonal Office on December 24 in connection with cheating of crores of rupees under the guise of investment in the name of a fake entity “Crypto World Trading Company”.
ED initiated investigation on the basis of an FIR registered by the Haryana Police, against Vikas Kalra, Tarun Taneja, Kapil Kumar and Pawan Kumar at Ambala in August 2022.
All the accused were arrested then and the police seized assets worth ₹60 lakh along with an Innova SUV in the case, in which the accused used to dupe scores of victims by luring them into fake digital currency scam.
The investigations had then revealed that the amount was taken from the victims in cash and were being mostly defrauded through parties/events in the name of the rising digital currency market homonymous name like “cryptocurrency”, asking them to invest in the multiples of ₹8,000.
The victims, mostly from the north Haryana region, were also lured for more profit, if more investors were added, just like the infamous “chain system.”
In a statement, the ED said that the search operations were carried out at nine locations across Ambala, Kurukshetra, Karnal and Chandigarh, where various incriminating documents and digital evidence have been seized.
“Besides, 18 bank accounts having proceeds of crime worth ₹22.38 lakh have been frozen along with seizure of ₹4 lakh in cash. In addition, immovable properties worth ₹3 crore (approx.) have also been unearthed. The proceeds of crime generated has been utilised in acquiring immovable properties in the name of the family members of the accused,” it added.
The agency said that investigation also revealed that the accused individuals, in collusion with each other, had cheated crores of rupees from numerous people in the city and surrounding areas by alluring them to invest in “Crypto World Trading Company”.
“The accused had created a fraudulent online platform under the name of Crypto World Trading Company, with intent to deceive the innocent investors of their hard earned money. Investigation revealed that accused persons created Crypto Wallets on Binance where they received money from various investors,” the ED said.
“Analysis of bank accounts of accused persons reveals that investments from various investors were received in their personal bank accounts and layered through bank accounts of their family members and associates,” the ED added.
