Money Laundering - Looma News

ED Nabs 2 CAs and Crypto Trader in ₹640 Crore Money Laundering Case

Two chartered accountants (CAs) and a cryptocurrency trader were arrested in a ₹640 crore cyber fraud case. The Enforcement Directorate (ED) carried out searches at several locations, recovering ₹47 lakh in cash, important documents, and crypto assets. The fraud involved betting, gambling, part-time jobs, and phishing scams, with the money being transferred through over 5,000 Indian bank accounts to a payment platform based in the UAE.

By Vishal Kumar

December 4, 2024

Rs 8.8 Crore Cash Seized from Lottery King Santiago Martin in Nationwide ED Operation

The Enforcement Directorate (ED) seized Rs 8.8 crore in cash from Santiago Martin, a Chennai-based businessman known as the 'lottery king.' The operation targeted 20 locations across several states as part of a money laundering probe. Martin has been under investigation for alleged lottery fraud, donations via electoral bonds, and questionable business practices. The ED is looking into his financial dealings and assets linked to fraudulent lottery sales.

By Vishal Kumar

November 15, 2024

Politics / Business / Technology

ED Raids Amazon and Flipkart Sellers Nationwide in Money Laundering Probe

The Enforcement Directorate (ED) has carried out raids across India targeting sellers on Amazon and Flipkart as part of an investigation into suspected money laundering. The focus is on uncovering financial irregularities, including how third-party vendors might be using these platforms to hide illegal funds. This comes as the government increases its oversight of the e-commerce industry in India.

By Avi G

November 8, 2024

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