ED has frozen PoC of Rs 2.8 Crore in the bank account of a shell company Cyberforest Technology Private Limited; One of the arrested persons was in contact with Chinese cyber fraudsters for siphoning off the amount of Rs.2.8 Crore
FinTech BizNews Service
Mumbai, September 14, 2024: Directorate of Enforcement (ED) has arrested 04 persons namely Tamilarasan Kuppan (aged 29 years), Prakash (aged 26 years), Aravindan I (aged 23 years) and Ajith (aged 28 years) on 13.09.2024 from Pallipattu, Tamil Nadu in a case related to cyber fraud of Rs. 2.6 Crore by a cyber fraudster posing as a CBI Officer. All the four accused were involved in incorporation of shell companies and opening of bank accounts, through which Proceeds of Crime (PoC) generated from cyber scam were laundered, as per the press release issued by the ED today.
The Hon’ble Special Court, Bengaluru has granted ED custody of 04 days to these 04 accused persons. Further, ED has frozen PoC of Rs 2.8 Crore in the bank account of a shell company M/s Cyberforest Technology Private Limited. ED initiated investigation on the basis of several FIRs registered by various state police all over the country including FIR No. 330 dated 03.09.2024 registered by Special Offences and Cyber Crime Police, Jaipur.
The victim in the FIR No. 330 dated 03.09.2024 received a call from a mobile number wherein a person was claiming to be calling from Bombay Custom Office. During the call, it was communicated to the victim that illegal goods were being sent abroad under the victim's name. Then the victim was instructed to make a ‘fund legalization’ payment as a security to ensure that no money had been illegally earned by the victim. A total amount of Rs. 2.16 Crore (approx.) was asked to be transferred by the fraudsters in three separate instalments into three different accounts provided by the caller, under the guise of ‘fund legalization’. Subsequently, an individual who claimed to be a CBI officer, contacted the victim over mobile phone. The fraudster continued to assert that he was a CBI officer. Furthermore, a call was received by the victim from someone who claimed to be DCP Delhi Police, to verify the authenticity of the so-called CBI officer. On the insistence of so-called government officials, victim was pressurised and extorted of his entire life savings and investments, amounting to Rs. 2.16 Crore (approx.).
By way of swift action by ED, POC to the tune of Rs 2.8 Crore have been freezed in a Bandhan Bank account of the shell company M/s Cyberforest Technology Private Limited on 12-09-2024 in which the proceeds were transferred by the victim. The whole process and activities related to transactions in the bank accounts of these shell companies were done through a WhatsApp group where Tamilarasan, Ajith, Aravindan, Prakash along with Chinese scammers were members.
Investigation has revealed that Tamilarasan, one of the arrested persons was in contact with Chinese cyber fraudsters for siphoning off the amount of Rs.2.8 Crore frozen in Bandhan Bank. It has also been revealed that Tamilarasan, Ajith, Prakash, Aravindan were actively involved in incorporation of shell companies and opening of bank accounts of these shell companies which were used to launder the proceeds of crime generated from various cyber frauds. Tamilarasan in active assistance with Ajith, Prakash, Aravindan ran a syndicate to assist Cyber Fraudsters in arranging dummy Directors, addresses and documents for incorporation of shell companies and liasoning with bank personnnel for opening of accounts through which proceeds of crime generated from cyberfrauds were laundered.
Earlier, ED had arrested 04 persons namely Shashi Kumar M, Sachin M, Kiran S K, and Charan Raj C, on 15.08.2024 and 21.08.2024 in Bengaluru. They are currently in judicial custody. So far, 17 searches have been conducted at various premises which led to seizure of various incriminating material including mobile phones and other digital devices and freezing of Rs. 2.8 Crore in the bank account. Investigation under PMLA, 2002 has, so far, identified POC of more than Rs 28 Crore generated from Cyber scam. Further investigation is under progress.
