In the matter of Chinese-controlled loan apps and investment tokens, the Enforcement Directorate announced on Friday that it had frozen funds totalling ₹46.67 crores held in payment gateways Easebuzz, Razorpay, Cashfree, and Paytm.
On September 14, searches were initiated at various locations belonging to the accused in Delhi, Mumbai, Ghaziabad, Lucknow, and Gaya. Following raids this week targeting In accordance with the anti-money laundering law, the funds have been blocked.
Across connection with an inquiry into an app-based token called HPZ and related organisations, 16 bank and payment gateway locations in Delhi, Gurugram, Mumbai, Pune, Chennai, Hyderabad, Jaipur, Jodhpur, and Bengaluru were also covered.
According to the statement, the Kohima Police’s cyber crime unit in Nagaland filed an FIR in October 2021, which is the basis for the money laundering case. Various damning documents were found and seized during the search.
According to the statement, large balances were discovered to be kept in the virtual accounts of the involved entities with payment aggregators. “Rs ₹33.36 crores was found with Easebuzz Private Limited, Pune; Rs 8.21 crore with Razorpay Software Private Limited, Bangalore; Rs 1.28 crore with Cashfree Payments India Private Limited, Bangalore; and Rs 1.11 crore with Paytm Payments Services Limited, New Delhi.
The ED reported that a total of ₹46.67 crore was found and frozen in numerous bank accounts and virtual accounts.
