The Directorate of Enforcement (ED) on Thursday (September 14) attached movable assets worth Rs 6.47 Crore, which includes a substantial amount of Rs. 71.3 lakh in the form of cryptocurrency, in a part-time job fraud case linked to China. This enforcement action comes under the Prevention of Money Laundering Act (PMLA), 2002.
The ED launched its investigation following an FIR filed by the South CEN Police Station in Bengaluru City, which uncovered a web of deceit and fraud perpetrated against gullible Indian youth.
According to ED's findings, certain Chinese individuals operating through a mobile app called "Keepsharer" lured young Indians with promises of part-time job opportunities. They collected money from these unsuspecting individuals and went on to establish companies in India, recruiting Indians as directors, translators, HR managers, and telecallers. The "Keepsharer" app, which was linked to an investment platform, duped the youth into investing money.
The fraudulent scheme involved having the victims like celebrities' videos and share them on social media platforms. Once the task was completed, Rs. 20 per video would be credited to their "Keepsharer" wallets. However, the app was later removed from the Play Store, leaving victims empty-handed.
The attached assets totaling Rs. 6.47 Crore are associated with six companies: Toningworld International Private Limited, Ansol Technology Private Limited, Redraccoon Services India Private Limited, Energico Digital Private Limited, Bridge Tera Technologies Private Limited, Ashenfallous Technologies Private Limited, and nine individuals.
It has been revealed that the scammers channeled the ill-gotten gains from these entities through bank accounts and subsequently converted them into cryptocurrency before transferring the funds to Chinese crypto exchanges.
In a prior operation, the ED had conducted searches on 12 entities involved in the case, leading to the seizure of Rs. 5.85 Crore under Section 17 of the Prevention of Money Laundering Act.
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Supreme Court says it may consider interim bail for Arvind Kejriwal due to ongoing Lok Sabha polls
May 3, 2024 4:57 PM
10% discount on fare on Mumbai Metro lines 2 and 7A on May 20
May 3, 2024 2:40 PM