Kolkata, June 20 (UNI) The Enforcement Directorate (ED) probing the alleged online investment fraud has seized bank accounts and documents worth over Rs 12 crore during search operations in West Bengal and Delhi, the money laundering probe agency said.
ED's Kolkata zonal office had raided at least 7 locations across West Bengal and New Delhi on Wednesday in connection with a money laundering investigation related to online investment fraud in which the gullible investors were misled to invest money on false promises of high returns.
During searches, some 203 bank accounts linked to the activities connected with Proceeds of Crime (POC) have been frozen and documents relating to immovable properties derived from POC worth over Rs 12 crore have been seized.
" The ED is in the process of ascertaining balances of all the frozen accounts from the banks. To date the balances ascertained in 147 of the frozen bank accounts amount to Rs 4.5 crore," an ED statement said.
The premier investigation agency also seized incriminating records, digital devices like mobile phones and laptops in establishing the financial trail and uncovering the modus operandi of the entities involved.
The ED also seized cash of Rs 4.5 lakh from one of the premises during searching.
The ED 's investigation followed an FIR registered by the West Bengal Police on complaints from various investors of online frauds.
The accused persons used to lure investors by promising them high returns from online investment activities. The investors were enrolled in various WhatsApp groups and profits were shown to them in various investment apps floated by the perpetrators.
At the time of withdrawal, they were asked to pay further monies in lieu of capital gains tax and other miscellaneous charges. The gullible investors, even after paying the additional monies so demanded, were not returned their investments.
Upon analysis of bank accounts, it was seen that funds collected from the investors were never invested in the stock markets and were further layered in other mule accounts. The investigation is under progress, the ED said.
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