ED freezes Rs 16.43 crore in Bengaluru, Pune payment aggregator raids

ED freezes Rs 16.43 crore in Bengaluru, Pune payment aggregator raids
ED freezes Rs 16.43 crore in Bengaluru, Pune payment aggregator raids
ED freezes Rs 16.43 crore in Bengaluru, Pune payment aggregator raids
ED freezes Rs 16.43 crore in Bengaluru, Pune payment aggregator raids

ED freezes Rs 16.43 crore in Bengaluru, Pune payment aggregator raids

ED freezes Rs 16.43 crore in Bengaluru, Pune payment aggregator raids

ED freezes Rs 16.43 crore in Bengaluru, Pune payment aggregator raids

The Enforcement Directorate (ED) has taken decisive action by freezing funds totaling Rs 16.43 crore in connection with a money laundering investigation involving a web-based mobile application called “Dani Data” and other entities. This significant move follows search operations conducted by the Ahmedabad Zonal Office of the ED at six premises of payment aggregators in Bengaluru and Pune on March 20.

Initiating Investigation

The ED’s investigation is focused on merchant IDs used for collecting payments through the Dani Data App, operating under the provisions of the Prevention of Money Laundering Act, 2002. This investigation was initiated subsequent to an FIR registered by the Cyber Crime police station in Gujarat’s Banaskantha district against the controllers of the Dani Data App.

Alleged Scheme Uncovered

According to ED findings, the controllers of the Dani Data mobile application allegedly enticed investors with guaranteed returns on investments, offering a minimum return of 0.75 per cent per game. This scheme attracted numerous individuals to deposit funds through the app. However, after a substantial amount was deposited, the accused removed the application from the Google Play Store. The charge sheet filed by the Gujarat police uncovered a conspiracy involving the accused, including a Chinese national, who allegedly cheated investors by inducing them to deposit crores of rupees through the app.

The ED’s actions follow searches conducted last year at 14 premises in Delhi and Gujarat as part of the ongoing investigation into the case.

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