Shillong, May 9: The Enforcement Directorate (ED) has temporarily seized assets worth ₹1.06 crore under the provisions of the Prevention of Money Laundering Act (PMLA), 2002. This action is part of an ongoing investigation into fraudulent online income and investment schemes targeting investors.
The ED initiated its investigation based on a First Information Report (FIR) filed by the Meghalaya Police at the Madanriting Police Station. The complaint involves a mobile application named ‘Global Media App,’ which allegedly facilitated fraud.
The investigation revealed that the accused operated the ‘Global Media App’ as a Ponzi-style investment scheme. Users were promised daily passive income in exchange for watching advertisement videos on an online advertising platform. They were encouraged to upgrade to various VIP membership plans by assuring high daily returns and referral commissions.
During the PMLA investigation, it was discovered that the fraudsters promoted the application through a Telegram channel operated by individuals using foreign mobile numbers. They collected funds from unsuspecting investors via bank transfers, UPI transactions, and cryptocurrency wallets. The scheme was active from June 3, 2022, to October 12, 2022, after which the criminals abruptly shut down the application and fled with the collected funds.
The ED’s investigation indicated that approximately ₹45.33 crore in proceeds of crime (POC) were generated through the fraudulent scheme. The inquiry identified multiple bank accounts, merchant IDs, payment gateway accounts, and cryptocurrency wallets used for collecting and transferring the illicit funds.
It was also revealed that the money collected through the fraudulent application was funneled through various levels of bank accounts and merchant entities registered with payment gateways, which were used for illegal fund transfers. The investigation uncovered the use of cryptocurrency wallets operating on the Tron blockchain network for the collection and transfer of USDT tokens. During the inquiry, the ED questioned various banks, payment gateways, Google, Telegram, and cryptocurrency exchanges.
Analysis of financial transactions and blockchain transfers led to the identification of crime proceeds in several bank accounts, which have been temporarily seized under Section 5 of the PMLA, 2002. The investigation also highlighted that the ‘Global Media App’ fraud has significant international dimensions, promoted through the Telegram channel.
–
My name is Bhupendra Singh Chundawat. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
Leave a Comment