Did ED Provisional Attach Assets Worth Rs 2.83 Crore in a Cyber Fraud Case?
Click to start listening
Synopsis
The ED has taken significant action against cyber fraud, provisionally attaching assets worth Rs 2.83 crore linked to fake call centres. This operation underscores the agency's commitment to combating transnational crime.
Key Takeaways
- ED's proactive measures against cyber fraud.
- Assets worth Rs 2.83 crore provisionally attached.
- Involvement of international elements in the fraud.
- Use of cryptocurrencies and online platforms for money laundering.
- Continued investigations into the operations of fake call centres.
Patna, July 18 (NationPress) The Directorate of Enforcement (ED), Patna Zonal Office, has provisionally attached both movable and immovable assets valued at approximately Rs 2.83 crore linked to a transnational cyber fraud case. This case involves fraudulent call centres run by Sagar Yadav and his Kolkata-based companies, M/s Scrapix Consultancy Services Pvt Ltd and M/s Casanovus Reality Pvt Ltd, as stated by the agency on Friday.
The properties subject to attachment include land parcels, apartments, and fixed deposits. This action was initiated under the Prevention of Money Laundering Act.
The ED began its investigation following reports of cyber fraud against Ms Carmel Fox, an Irish national, received from the National Central Bureau (NCB) of Ireland and subsequently forwarded by the CBI.
In this case, the Patna Zonal Office recorded an ECIR as it falls under the category of “Cross-border implication,” since the fraud originated in a foreign nation, with the Proceeds of Crime (POC) being transferred to India.
Investigations revealed that a group was perpetrating cyber fraud against foreign individuals by setting up fraudulent call centres. The proceeds generated from these scams were transferred to India through various channels, including Western Union, Moneygram, Rewire, Remitly, and cryptocurrencies, later laundered using apps such as Lenden Club, Lendbox, and Liquiloans.
To date, the ED has apprehended seven individuals, including the alleged mastermind Sagar Yadav, filing one charge sheet and two supplementary charge sheets against him, his companies, and accomplices.
Further investigations revealed that two properties were acquired in the names of M/s Scrapix Consultancy Services Pvt Ltd and M/s Casanovus Reality Pvt Ltd, with the purchase payments made using the POC.
These properties, worth around Rs 2.67 crore, have been provisionally attached. Additionally, movable assets valued at approximately Rs 15.75 Lakh in the form of Fixed Deposits have also been attached.
Ongoing investigations are still underway.
Point of View
I recognize the importance of the ED's actions in this case. The attachment of assets signals a robust approach towards tackling cyber fraud and money laundering, demonstrating the government's commitment to ensuring accountability and justice in transnational crime.
NationPress
21/07/2025
Frequently Asked Questions
What triggered the ED's investigation into the cyber fraud?
The investigation was initiated based on information regarding cyber fraud against Ms Carmel Fox, an Irish national, received from the National Central Bureau of Ireland.
What kind of assets were attached by the ED?
The ED attached both movable and immovable assets, including land parcels, flats, and fixed deposits, totaling approximately Rs 2.83 crore.
Who is the main suspect in this fraud case?
The main suspect is Sagar Yadav, who has been identified as the kingpin behind the operation of fake call centres.
How were the proceeds of the cyber fraud laundered?
The proceeds were laundered through various online platforms and cryptocurrencies, using apps like Lenden Club, Lendbox, and Liquiloans.
What is the current status of the investigation?
The investigation is ongoing, with further actions likely to follow as the ED continues to uncover the extent of the fraud.
