Key Points
- Two CAs and one cryptocurrency trader arrested in a ₹640 crore cyber fraud case.
- Searches carried out across multiple cities, recovering ₹47 lakh in cash and crucial items.
- Crypto assets worth ₹1.36 crore seized, and several bank accounts frozen.
- The fraud involved betting, gambling, part-time jobs, and phishing scams.
- Funds were transferred through more than 5,000 mule accounts to a UAE-based payment platform.
- Police arrested an individual for attacking an ED team during the investigation.
Looma News
Two chartered accountants, Ajay Yadav and Vipin Yadav, along with cryptocurrency trader Jitendra Kaswan, were arrested by the Enforcement Directorate (ED) in connection with a ₹640 crore cyber fraud case. The arrests followed a large investigation into a money laundering scheme, which included searches across Delhi, Jodhpur, Jhunjhunu, Hyderabad, Pune, and Kolkata from November 28 to November 30. During the raids, authorities seized ₹47 lakh in cash, numerous incriminating documents, cheque books, ATM cards, PAN cards, digital signatures, and secret phrases for trust wallets.
The ED also confiscated crypto assets (USDT) worth ₹1.36 crore from a private wallet and froze several bank accounts linked to the fraud. The investigation started after two FIRs were filed by the Economic Offences Wing of the Delhi Police, which had uncovered cyber fraud schemes involving betting, gambling, part-time jobs, and phishing scams. According to the ED, the laundered money passed through over 5,000 mule accounts in India before being sent to a UAE-based payment platform called PYYPL.
In a related incident, Radhe Shyam Sharma, a local resident, was arrested for allegedly attacking an ED team during a search at his brother’s farmhouse in Delhi. His brother, Ashok Kumar Sharma, is a chartered accountant involved in the case. The investigation is still ongoing as the ED works to uncover more details of the fraud operation.
