ED Freezes ₹16.43 Crore in Money Laundering Probe

ED Freezes ₹16.43 Crore in Money Laundering Probe
ED Freezes ₹16.43 Crore in Money Laundering Probe
ED Freezes ₹16.43 Crore in Money Laundering Probe
ED Freezes ₹16.43 Crore in Money Laundering Probe

ED Freezes ₹16.43 Crore in Money Laundering Probe

ED Freezes ₹16.43 Crore in Money Laundering Probe

ED Freezes ₹16.43 Crore in Money Laundering Probe

The Enforcement Directorate (ED) has taken decisive action, freezing funds totaling Rs 16.43 crore linked to a web-based mobile application named “Dani Data” and other entities. These funds were frozen under the Prevention of Money Laundering Act, 2002, following search operations conducted by the Ahmedabad Zonal Office of the Enforcement Directorate at six premises of payment aggregators in Bengaluru and Pune on March 20.

Initiation of Investigation

The case is under investigation as per the provisions of the Prevention of Money Laundering Act, 2002, focusing on merchant IDs used for payment collection through the Dani Data App. The investigation was initiated based on a First Information Report (FIR) filed by the Cyber Crime police station in Gujarat’s Banaskantha district against the controllers of the web-based application “Dani Data” and others.

Alleged Investment Scheme

The ED’s investigation uncovered an alleged investment scheme wherein the controllers of the Dani Data mobile application promised guaranteed returns on investments, attracting numerous individuals to deposit funds through the app. Subsequently, after substantial deposits were made, the accused removed the application from the Google Play Store. The charge sheet filed by the Gujarat police revealed a conspiracy involving the accused, including a Chinese national, who allegedly cheated and induced thousands of investors to deposit crores of rupees through the app.

In a related development, the ED conducted searches at 14 premises in Delhi and Gujarat on November 1 last year, furthering its investigation into the case.

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