India’s Enforcement Directorate has declared a significant victory in its ongoing battle against the notorious E-Nugget scam centered in Kolkata. After years of meticulous investigation, the agency has not only apprehended the mastermind behind the fraudulent scheme, Aamir Khan, but also managed to seize a substantial amount of assets, both in cash and cryptocurrency, totaling around $10 million.
The E-Nugget scam, masquerading as an enticing online gaming platform, lured unsuspecting users with the promise of handsome returns on investments and hefty commissions. However, once users invested their money, the app abruptly shut down, leaving them high and dry with no means to access their funds.
The unraveling of this elaborate scam began in 2022 when the Enforcement Directorate uncovered its intricate web of deceit. Their investigation revealed the existence of approximately 2500 dummy bank accounts used to siphon off ill-gotten gains. In a series of raids, authorities seized roughly Rs. 19 Crore in cash and arrested the main orchestrator, Aamir Khan, who is currently under judicial custody.
Further probing led the Directorate to track down crypto assets linked to the scam across various exchanges, including Binance, Zebpay, and Wazirx. With information obtained from these exchanges, the Enforcement Directorate froze nearly Rs. 90 crore worth of assets held in 70 accounts associated with the fraudulent activities.
Taking swift action, the agency transferred these seized crypto assets into its own wallet, ensuring they are secured and removed from the grasp of those involved in the scam. This latest crackdown marks a significant milestone in India’s fight against financial fraud and underscores the growing importance of regulating the digital asset landscape to safeguard investors’ interests.
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