National Times Bureau :- Enforcement Directorate (ED) has launched a major operation in an international cyber fraud case. On Wednesday morning, the ED conducted search operations at 11 locations in Delhi-NCR and Dehradun, the capital of Uttarakhand. The cyber fraudsters had impersonated police officers or investigating officials to defraud numerous foreign and Indian citizens.
Investigation Under PMLA
These raids are part of an ongoing investigation under the Prevention of Money Laundering Act (PMLA), based on FIRs registered by the Central Bureau of Investigation (CBI) and Delhi Police. Besides Delhi, the ED conducted raids in Noida and Gurugram on Wednesday morning.
Preliminary investigations have revealed that the fraudsters impersonated police officers or officials from investigating agencies to defraud Indian and foreign nationals. They extorted large sums of money by threatening to arrest these individuals. Additionally, the accused also impersonated members of Microsoft or Amazon’s technical support teams to deceive and defraud people.
Funds Converted to Cryptocurrency
The money extorted from victims was converted into cryptocurrency and then transferred to the accused. The investigation revealed that the accused had deposited approximately ₹260 crore in the form of Bitcoin into various cryptocurrency wallets. These Bitcoins were later converted into USDT (crypto token) and then into cash. This entire transaction was carried out through UAE-based hawala operators and other means. Currently, the ED is continuing its investigation into the matter and identifying individuals involved in these financial crimes to take legal action.
