CHENNAI: The Enforcement Directorate (ED) has busted an online fraud — in which at least 600 victims from across the country were cheated of more than Rs 400 crore in the guise of offering investment schemes and jobs — by arresting two men from Tamil Nadu .
Debit and credit transactions exceeding Rs 300 crore were found in 31 such accounts. ED had earlier conducted searches at locations linked to Roshan Fiaz, Ammar and their associated entities, which led to seizure of Rs 14.50 lakh cash and cryptocurrency worth Rs 3.26 crore and freezing of Rs 88.28 lakh lying in multiple bank accounts.
ED said that the arrested, Roshan Fiaz of Chenani and Ammar of Pudukottai, were part of a larger network whose modus operandi was to call or contact victims through social media platforms and make them pay huge sums to accused’s mule accounts on the pretext of investment schemes, jobs, share market investments and other online fraud methods. Ammar supplied mule bank accounts of various individuals and entities, along with account kits, net-banking credentials, SIM cards, mobile phones and e-mail IDs, to Roshan Fiaz, for receiving INR from crypto buyers,” said ED. “Roshan Fiaz was the key person in the network and operated an extensive chain of mule bank accounts in his own name, in the name of his wife and in the names of several entities controlled by him. You Can Also Check: Gold Rate in Chennai | Silver Rate in Chennai | Bank Holidays in Chennai | Public Holidays in Chennai | Chennai AQI | Weather in Chennai | Petrol Price in Chennai | Diesel Price in Chennai | CNG Price in Chennai | LPG Price in Chennai