₹100 crore fraud: Hawala operators under ED scanner
MUMBAI: The Enforcement Directorate has taken a few hawala operators specialising in crypto-currencies under its scanner as part of its money-laundering probe against a Dubai-based businessman and others who are accused of ₹100-crore fraud that involves the use of dubious financial schemes and forex trading to lure investors. The hawala traders under the scanner were allegedly used by the case’s accused persons to remit the proceeds of crime to Dubai, in exchange for cryptocurrency such as USDT, the source said. The agency commenced its probe based on a case registered by the Bharti Vidyapeeth police station of the Pune police, under various sections of the Indian Penal Code against the Dubai-based business-man Vinod Khute and four others for allegedly duping several investors via a criminal conspiracy to cheat gullible individuals into Ponzi schemes and forex trading by luring them with the promise of high returns, agency sources said. The agency’s probe has revealed that Khute operates various illegal trades including those related to crypto exchange, wallet services and forex trading through a Dubai-based firm, Kana Capital Limited and has set up multiple companies to carry out illicit financial works.
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