The Enforcement Directorate (ED) on Wednesday carried out raids at 11 locations in Delhi and three states in connection with a Rs 260 crore global cyber fraud case. The searches, conducted under the Prevention of Money Laundering Act, were based on FIRs filed by the Delhi Police and the Central Bureau of Investigation.
Raids were underway in Noida, Gurugram, Dehradun and the national capital. According to the ED, the accused posed as police or investigation officers to extort money from foreign and Indian nationals by threatening them with arrest. They also impersonated Microsoft and Amazon tech support agents to defraud victims.
The illicit funds were converted into cryptocurrencies, with Rs 260 crore accrued in the form of Bitcoins in multiple crypto wallets. These were later converted into USDT and liquidated into cash through hawala operators in the UAE.
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