How Did ED Seize Rs 2.85 Crore from Fake ‘Bank of America’ Call Centre Operators?
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Synopsis
In a stunning crackdown, the ED has seized Rs 2.85 crore in assets linked to a cyber fraud case where a Haryana-based gang duped foreign nationals. This investigation reveals the alarming reach of a fraudulent call center impersonating Bank of America employees, emphasizing the critical need for vigilance against cybercrime.
Key Takeaways
- The ED has seized assets worth Rs 2.85 crore.
- A Haryana gang impersonated Bank of America employees.
- The total fraud amount is Rs 11.50 crore.
- Funds were laundered through multiple bank accounts.
- Crucial need for public awareness on cyber fraud.
Chandigarh, Oct 7 (NationPress) The ED has seized both immovable and movable assets valued at Rs 2.85 crore in connection with a cyber fraud case where foreign nationals were swindled out of Rs 11.50 crore by a gang from Haryana posing as employees of Bank of America, an official reported on Tuesday.
The Enforcement Directorate (ED), Chandigarh Zonal Office, executed the asset seizure on September 30 under the Prevention of Money Laundering Act (PMLA), 2002.
The accused, Vikramjeet Singh and accomplices, allegedly defrauded victims by unlawfully accessing their computers, as stated by the ED.
The investigation was launched following an FIR filed by the Haryana Police against Vikramjeet Singh after a complaint was made by a US citizen, according to the official statement.
Evidence uncovered that Vikramjeet Singh and Anchal Mittal, in collaboration with others, established a fraudulent Call Centre to impersonate employees of Bank of America.
In this fraudulent scheme, they gained illegal access to the computer of a US citizen, resulting in a fraud amounting to Rs 11.54 crore. The illicit funds were then utilized to purchase cryptocurrency, which was later sold, and the proceeds were laundered through various bank accounts linked to relatives of the gang members and other entities, the ED reported.
It was revealed that Proceeds of Crime (POC) were also generated in cash, which was subsequently used to buy immovable properties, the ED noted.
The investigation indicated that the Proceeds of Crime were funneled through multiple bank accounts and utilized by the primary accused, Vikramjeet Singh, for acquiring immovable properties in the names of his close family members.
Vikramjeet Singh has reportedly extended loans to various individuals and made advance payments to several builders using the stolen funds. Two immovable properties acquired from the Proceeds of Crime in the names of Sarita Devi and Jasbir Singh, parents of the main mastermind Vikramjeet Singh, have been valued at Rs 1.26 crore, according to the ED.
The agency has now attached bank accounts and fixed deposits amounting to Rs 1.58 crore.
Earlier, on July 29, the ED conducted searches at the residences of Vikramjeet Singh and his associates, seizing incriminating documents and digital evidence, as outlined in the statement.
Additionally, bank accounts holding Rs 43.58 lakh were also frozen, as mentioned in the statement.
Point of View
I believe this incident underscores the urgent need for heightened cybersecurity awareness among individuals and organizations alike. The extent of this fraudulent operation reveals vulnerabilities that can be exploited by cybercriminals, making it crucial for everyone to stay informed and vigilant.
NationPress
07/10/2025
Frequently Asked Questions
What is the total amount seized by the ED?
The ED has seized assets worth Rs 2.85 crore in connection with this cyber fraud case.
Who are the main accused in this case?
The main accused are Vikramjeet Singh and Anchal Mittal, among others, who operated the fraudulent call center.
How did the fraud occur?
The fraud was executed by illegally accessing the victims' computers and impersonating employees of Bank of America.
What actions has the ED taken so far?
The ED has attached assets, frozen bank accounts, and conducted searches at the residences of the accused.
How much money was defrauded from victims?
The victims were defrauded of Rs 11.50 crore by the gang.
