Did ED File Charge Sheet in SP Oswal's Digital Fraud Case?
Synopsis
In a significant development, the ED has filed a charge sheet against five individuals in the digital fraud case involving industrialist S.P. Oswal. The case revolves around a staggering amount of Rs 7 crore allegedly extorted through impersonation. Stay tuned for the latest updates on this ongoing investigation.
Key Takeaways
The ED has filed a charge sheet against five individuals linked to a major fraud case.
Oswal was allegedly extorted of Rs 7 crore.
Proceeds of crime were funneled through multiple mule accounts.
The case involves cryptocurrency transactions and sophisticated money laundering techniques.
Ongoing investigations may uncover further details.
Chandigarh, Feb 20 (NationPress) The Jalandhar Zonal Office of the Directorate of Enforcement (ED) has submitted a prosecution complaint (charge sheet) against five individuals related to a money laundering investigation tied to the digital arrest scam involving industrialist S.P. Oswal.
An official announcement made on Friday states that the charge sheet was submitted under the Prevention of Money Laundering Act (PMLA) to the Special PMLA Court in Jalandhar on February 19.
The individuals named in the complaint are Rumi Kalita, Arpit Rathore, Anand Chaudhary, Atanu Chaudhary, and his company, M/s Frozenman Warehousing & Logistics.
The ED's investigation commenced following an FIR filed by the Cyber Crime Police Station, Ludhiana, under the Bharatiya Nyaya Sanhita (BNSS), 2023.
Findings indicated that during the digital arrest, fraudsters impersonating Central Bureau of Investigation officers allegedly extorted Rs 7 crore from Oswal.
The illicit funds were initially deposited into the accounts of M/s Rigglo Ventures Private Limited and M/s Frozenman Warehousing & Logistics. Allegedly, Kalita from Guwahati and Rathore from Kanpur managed the account of M/s Frozenman Warehousing & Logistics.
Further investigations uncovered that funds from eight other cybercrime cases were also funneled into the account of M/s Frozenman Warehousing & Logistics on August 28, 2024.
The ED revealed that the suspects utilized an APK application called ‘AMMFORWARD’ to efficiently transfer the illicit funds. Rathore allegedly provided numerous mule bank accounts to individuals in Cambodia, Vietnam, and other nations, receiving commissions in the form of cryptocurrency credited to his Binance account.
These funds were systematically transferred to various mule accounts to disguise their origins. A segment of the proceeds was laundered through shell companies and sent abroad using trade-based money laundering methods.
The remaining amounts were divided into smaller sums ranging from Rs 2 lakh to Rs 5 lakh and transferred to multiple mule accounts, from which cash was promptly withdrawn. The cash was subsequently used to purchase virtual digital assets, which were credited to foreign nationals' accounts after deducting commissions.
Investigators noted that these mule accounts were created by enticing economically fragile individuals with false promises of loans or job opportunities.
Previously, the ED issued a provisional attachment order for properties valued at Rs 1.76 crore.
Search operations were conducted on December 22, December 31, and January 31 related to this case. Kalita was detained on December 23, 2025, and Rathore was arrested on December 31, 2025. Both remain in judicial custody.
The ED has stated that further investigations into the case are ongoing.
Point of View
It's crucial to highlight the serious implications of this case involving prominent industrialist S.P. Oswal. The ED's actions underscore the government's commitment to tackling financial crimes and maintaining integrity within our financial systems. We will continue to monitor this developing situation closely.
NationPress
8 May 2026
Frequently Asked Questions
What is the main allegation against S.P. Oswal?
S.P. Oswal is alleged to have been a victim of a digital arrest fraud, where fraudsters impersonated CBI officers and extorted Rs 7 crore from him.
Who are the accused in this case?
The accused include Rumi Kalita, Arpit Rathore, Anand Chaudhary, Atanu Chaudhary, and M/s Frozenman Warehousing & Logistics.
What actions has the ED taken so far?
The ED has filed a charge sheet and conducted searches, resulting in the provisional attachment of properties valued at Rs 1.76 crore.
What is the significance of the APK application 'AMMFORWARD'?
The application was allegedly used by the accused to route the proceeds of crime rapidly and efficiently.
What is the current status of the investigation?
The ED has stated that further investigations are ongoing, with two of the accused currently in judicial custody.
