The Enforcement Directorate (ED) has arrested two chartered accountants (CAs), Ajay Yadav and Vipin Yadav, along with cryptocurrency trader Jitendra Kaswan, as part of a money laundering investigation linked to a massive Rs640 crore cyber fraud case.
The arrests followed extensive searches at 13 locations across Delhi, Jodhpur, Jhunjhunu, Hyderabad, Pune, and Kolkata between November 28 and November 30. During the operation, ED officials recovered Rs47 lakh in unexplained cash, several incriminating documents, cheque books, ATM cards, PAN cards, digital signatures, and trust wallet secret phrases. Additionally, cryptocurrency worth Rs1.36 crore (in USDT) was seized from a private wallet, and multiple bank accounts were frozen as part of the investigation.
The ED’s probe into the cyber fraud began after the Economic Offences Wing (EOW) of the Delhi Police filed two FIRs to investigate a case involving Rs640 crore in illicit transactions. The fraud was allegedly orchestrated through various online scams, including betting, gambling, part-time jobs, and phishing. Public funds were allegedly siphoned off by laundering through over 5,000 “mule” Indian bank accounts. These funds were then uploaded onto PYYPL, a payment platform based in the UAE.
In a related incident, local police arrested Radhe Shyam Sharma for allegedly attacking and obstructing the ED team during a search operation at his brother Ashok Kumar Sharma’s farmhouse in Bijwasan, southwest Delhi. The team was attempting to advance the investigation into the fraud when the confrontation occurred on November 28.
The ED continues to investigate the extensive network behind the ₹640 crore scam, focusing on tracing the layered fraudulent transactions and unearthing further criminal connections linked to the illicit funds.