By Raju Vernekar
Mumbai, Sept 30:
The Enforcement Directorate (ED) on Thursday carried out a search operation and froze account balances of Rs. 9.82 crore, kept in payment gateway account, of various Chinese-controlled entities involved in operating multiple suspicious loan/other Apps to dupe gullible investors.
ED had earlier frozen Bank/Virtual account balances amounting to Rs. 46.67 crore during the searches conducted on September 14 and with Thursday’s freezing the total freezing, in this case, stands at Rs. 56.49 crore an ED statement read.
The Chinese-controlled entities include Come in Network Technology Private Limited (registered office Gurgaon, Haryana), Mobicred Technology Private Limited (Bangalore, Karnataka), Magic Data Technology Private Limited (New Delhi), Baitu Technology Private Limited (Bangalore, Karnataka), Aliyeye Network Technology India Pvt Ltd (Bangalore), Wecash Technology Private Limited (Bangalore, Karnataka), Larting Private Limited (Bangalore, Karnataka), Magic Bird Technology Private Limited (Gurgaon, Haryana) and Acepearl Services Private Limited (Bangalore, Karnataka). These entities were misusing the App-based token named “HPZ” and other similar applications, to cheat investors.
ED initiated a money laundering investigation based on an FIR dated October 08, 2021, filed under various sections of the Indian Penal Code, 1860, by Cyber Crime Police Station, Kohima, Nagaland, against HPZ token and others. The HPZ Token promised users of large gains against investment by declaring the same as “investing in mining machines for Bitcoin and other crypto currencies”.
The modus-operandi of the fraudsters was to lure the victims to invest in their companies on the pretext of doubling/multiplying their investment through the “app HPZ Token” and other similar applications.
ED investigation revealed that various Chinese-controlled entities viz. Comein Network Technology Private Limited and others, in service agreements with various NBFCs, were also operating multiple suspicious loan/other Apps (such as Cashhome, Cashmart, easyloan, etc.) and indulged in receiving funds from the public on the pretext of operating these Apps.
Such apps flourished during the Covid-19 pandemic since people faced financial stringency and required quick cash. During those days, these apps lent money for periods ranging from a week to 30 days with heavy interest rates and processing fees.
Gamming App E-nuggets
In another case, the ED froze the crypto currencies, 77.62710139 Bitcoins (equivalent to US$1573466 and Rs 12.83 crore approximately) under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, concerning an investigation being conducted against one Aamir Khan and others relating to the Mobile Gamming Application, namely E-nuggets.
ED initiated a money laundering investigation based on an FIR dated February 15, 2021, filed under various sections of IPC by Park Street Police Station, Kolkata Police, against Aamir Khan and others, based on the complaint filed by Federal Bank authorities, in the Chief Metropolitan Magistrate court, Kolkata.
Aamir Khan, the Son of Nesar Ahmed Khan launched a mobile gaming application namely E-Nuggets, which was designed to defraud the public. After collecting a sizable amount of money from the public, all of a sudden withdrawal from the said App was stopped on one pretext or the other. Thereafter, all data including profile information was wiped off from the said App servers, the ED stated.
ED investigation revealed that the accused was transferring part of the amount illegally earned through the gaming app (E-Nuggets) overseas by using Crypto Currency Exchange. It was found that one such dummy account in the name of Sima Naskar [Proprietor of M/s Pixal Design] was opened in the WazirX (crypto exchange), which was used to purchase the crypto currencies/crypto assets.
Thereafter the said crypto currencies were further transferred to another account in another Crypto Exchange namely “Binance”. The balance of said transferred crypto currencies i.e. 77.62710139 Bitcoins (equivalent to the US $ 1573466 (Rs 12.83 crore approximately)] at Binance crypto exchange was frozen by ED. Earlier during a search operation conducted at the premises of Aamir Khan, an amount of Rs 17.32 crore was found and seized from his residential premises.
