The Enforcement Directorate (ED) apprehended Ashish Kakkar, a cyber fraudster residing in Greater Kailash, Delhi, from Hotel Holiday Inn, Gurugram, beneath Section 19 of the Prevention of Money Laundering Act (PMLA), 2002, on March 2, 2024. Kakkar, thought-about a key determine in a syndicate concerned in cybercrimes and on-line gaming, allegedly orchestrated the siphoning off of proceeds of crime (PoC) price Rs 4,978 crore throughout India between 2020 and 2024.
Cybercrime Nexus Unveiled
Initiating the investigation primarily based on FIRs filed nationwide, together with in Delhi, Rajasthan, Uttar Pradesh, and Haryana, the ED unveiled Kakkar’s involvement in defrauding the general public via varied cyber scams. Kakkar’s modus operandi included funding fraud, part-time job scams, on-line purchasing fraud, and mortgage fraud, the place victims had been lured with assured earnings and later coerced into investing extra funds beneath the guise of taxes or processing charges.
Layered Money Laundering Scheme
After swindling victims, Kakkar and his associates reportedly funneled the illicit proceeds via over 200 dummy firms, with Kakkar because the helpful proprietor. The funds had been subsequently transferred out of India as international outward remittances. The ED revealed Kakkar’s complicity in round buying and selling via import-export transactions, primarily in Special Economic Zones, amounting to Rs 4,978 crore in hawala transactions.
Seizures and Further Probe
Previous ED raids in May 2023 and February-March 2024 yielded vital seizures, together with gold bars, money, jewellery, luxurious automobiles, incriminating paperwork, and digital units. During the most recent operation, the company seized PAN playing cards, Aadhar playing cards, cell phones, and workplace stamps from Kakkar’s premises. Additionally, the ED recovered remotely accessed laptops used for evading investigation.
The investigation stays ongoing as authorities delve deeper into Kakkar’s intricate internet of cyber fraud and cash laundering actions.
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