The Proceeds of Crime to the tune of hundreds of Crore of INR were laundered through a complex web of innumerable transactions by moving the funds among large number of mule bank accounts opened in the name of dummy entities.
FinTech BizNews Service
Mumbai, August 9, 2025: Directorate of Enforcement (ED), Ahmedabad Zonal Office, has filed a Prosecution Complaint (PC) before the Hon’ble Special Court, PMLA, Ahmedabad on 07.08.2025 under the provisions of the Prevention of Money Laundering Act (PMLA), 2002in the matter of cheating by using “Dani Data App” through its operators and 9 others accused, as per a press release issued by the ED .
ED initiated investigation on the basis of FIR registered by Cyber Crime Police Station, Banaskantha, Gujarat for various offences under IPC, 1860 such as cheating, forgery and criminal conspiracy. ED investigation revealed that the said App launched by a Chinese National, collected funds in the name of betting and playing football game on apps downloaded from Google Play-store and through the WhatsApp referral groups. The gullible investors were lured by promising guaranteed return of 0.75% per game and it was a false promise. For e.g. INR 1000 would become INR 1.95 Lakh only in 30 days.
The funds were collected through the number of Merchant IDs opened with different Payment Aggregators viz. Agreepay, Bharatpe, Cashrfree, Paytm, etc. The said funds were routed in bank accounts linked with the said Merchant IDs during the period from December, 2021 to June, 2022.
ED has earlier conducted searches and has frozen amounts to the tune of INR 20.01 Crore (approx.) available in the different Merchant IDs and balance lying in bank accounts linked to the said merchant IDs. It is also found that the Proceeds of Crime to the tune of hundreds of Crore of INR so generated were laundered through a complex web of innumerable transactions by moving the funds among large number of mule bank accounts opened in the name of dummy entities. These proceeds were ultimately integrated into system by withdrawing in Cash, by purchasing foreign currencies, by converting into Crypto and by siphoning off abroad. Further investigation is under progress.
