A big scam involving chartered accountants, a company secretary, and a cryptocurrency trader has been discovered by the Enforcement Directorate (ED). This group tricked people out of more than ₹640 crore with various online scams.
Two chartered accountants, Ajay and Vipin Yadav, along with crypto trader Jitendra Kaswan, were arrested from November 28 to 30 during searches in the Delhi-NCR area. The investigation showed they ran a huge money-laundering scheme that connected to people overseas and used secret messaging apps.
This gang operated in different states, using fake online betting, gambling, part-time job listings, and phishing scams to take money from people. They funneled the stolen money through over 5,000 fake bank accounts in India before sending it to a payment service from UAE called “PYYPL.” Some cash was then withdrawn in Dubai using Indian bank cards.
During a raid at Ashok Kumar Sharma’s home in Bijwasan, Delhi, associates of the suspects attacked ED officials, injuring one. The police and CRPF had to step in to protect the rest of the team. Ashok is currently on the run, but his brother, Radhe Shyam Sharma, was arrested for the attack.
The ED searched 13 locations in Delhi, Gurgaon, Jodhpur, Jhunjhunu, Hyderabad, Pune, and Kolkata. They found lots of debit cards, cheque books, ATM cards, PAN cards, digital wallet phrases, ₹47 lakh in cash, and cryptocurrency (USDT) worth ₹1.36 crore from a wallet. They also froze several bank accounts.
The ED said: “The handlers gave instructions about opening fake accounts, handling cash, and buying crypto through a group chat. We found more than 2,000 documents that detail transactions in many bank accounts and crypto purchases. We are currently analyzing these documents.”
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