E-Paper
ED seizes crypto currency worth ₹10 lakh in raids against fake Ahmedabad call centre
ED seizes crypto currency worth ₹10 lakh in raids against fake Ahmedabad call centre
New Delhi, The Enforcement Directorate on Monday said it has seized crypto currency worth about ₹10 lakh apart from ₹13.5 lakh in cash following raids against the operators of an Ahmedabad-based illegal call centre that "duped" foreign nationals, primarily in the US.
The searches were undertaken on February 4 covering six premises in the city, the federal probe agency said in a statement.
The call centre operators, as per the ED, impersonated officials of the US government agencies or representatives of private companies and intimidated victims by falsely alleging non-payment of loan dues, tax liabilities or legal action and "coerced" them into purchasing gift cards or making digital payments.
Illicit funds generated in this manner were primarily received through Amazon gift cards and were subsequently redeemed and converted into crypto currency, including Bitcoin, through online platforms such as Paxful and other illegal channels, the agency said.
This was done with the involvement of foreign nationals who facilitated the conversion and liquidation of the cryptocurrency, it said.
A small fraction of the proceeds of crime was found to have passed through Indian banking channels while the majority was handled through cash and crypto currency and encashed through informal channels including hawala operators and local black markets, according to the agency.
The money laundering case stems from FIRs of the Gujarat Police cyber cell and the CBI. The call centres were being operated by individuals identified as Mohammed Ansari alias Mohd Irfan Ansari, Akib Gulamrasul Ghanchi, Vikas Nimar, Divyang Raval, Pradip Rathod and their associates.
The ED said it seized crypto currency equivalent to USD 12,000 from accused Akib Ghanchi and this was later transferred to a crypto wallet operated by the ED for investigation purposes.
Unaccounted cash of ₹13.5 lakh and "incriminating" documents and digital devices have also been seized apart from freezing 31 bank accounts and a bank locker, the agency said.
This article was generated from an automated news agency feed without modifications to text.
