The ED on Saturday said it has seized more than Rs 7 crore in cash after it conducted raids in Kolkata against the promoters of an alleged fraud mobile gaming app.
"ED has been carrying out search operations under the provisions of the PMLA, 2002 (on 10.09.2022) at 06 premises in Kolkata, in respect to an investigation relating to the Mobile Gaming Application. Huge cash (More than Rs 7 Crore) has been found at the premises."
— ED (@dir_ed) September 10, 2022
The searches were conducted at half-a-dozen locations of the gaming app named E-Nuggets and its promoter identified as Aamir Khan.
"So far, huge cash of more than Rs 7 crore has been found at the premises and counting of the amount is still under progress," the Enforcement Directorate said. The raid is a result of an FIR of the Kolkata Police filed against the company and its promoters in February 2021.
As per ED, during the initial period, the users were rewarded with commission and the balance in the wallet could be withdrawn easily. This gave confidence to more users which led to larger investments. After collecting a huge money from the users, suddenly the app stopped the withdrawal facility.
The agency is investigating if this app and its operators had links with other "Chinese controlled" apps that had been issuing loans at exorbitant rates to people.
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