financial crime
CBI Uncovers Massive Rs 1,000 Crore International Cyber Fraud Network Operating Through 111 Shell Companies
Dec 14, 2025 01:58 pm CST
The Central Bureau of Investigation has dismantled a sophisticated international cyber fraud operation involving four foreign nationals and 111 shell companies that defrauded thousands across India through fake loan applications, bogus investment schemes, and fraudulent job offers. The network, which processed over Rs 1,000 crore through hundreds of bank accounts, was uncovered during Operation CHAKRA-V targeting organized cybercrime.
Chinese Nationals Charged in Rs 1000 Crore HPZ Token Cryptocurrency Scam During Covid Pandemic
Dec 11, 2025 02:33 am CST
The CBI has charged two Chinese nationals in connection with the HPZ Token investment fraud, a sophisticated cryptocurrency scam that defrauded Indian citizens of over Rs 1000 crore during the Covid pandemic. The fraudsters operated through shell companies and payment aggregators to launder money, with the masterminds now fugitives operating from abroad. This case reveals part of a larger cyber crime network targeting vulnerable Indians through various financial scams.
Major Cyber Fraud Ring Busted in Gujarat: Rs 104-Crore Scheme Involving Digital Arrests and Cryptocurrency Laundering
Dec 11, 2025 01:26 am CST
A sophisticated cyber fraud operation worth Rs 104 crore was dismantled in Gujarat as the Enforcement Directorate filed charges against five individuals. The scam involved fake investment advisories, impersonation of government officials, and "digital arrest" schemes, with proceeds laundered through multiple bank accounts and ultimately converted to cryptocurrency. While four suspects have been arrested, the alleged mastermind remains at large after fleeing to an Arab country.
CBI Files Fraud Case Against Anil Ambani's Son: Rs 228 Crore Bank Fund Misappropriation Investigation
Dec 09, 2025 05:09 pm CST
The CBI has launched an investigation against Jai Anmol Ambani and Reliance Home Finance Ltd for allegedly defrauding Union Bank of India of Rs 228 crore. The case involves accusations of fund diversion, account manipulation, and breach of trust after the company failed to meet financial obligations, resulting in the account being classified as a non-performing asset in 2019.
Ugandan Scammer Arrested in Delhi for Rs 1.9 Lakh Dating App Fraud Using Girlfriend's Photos
Dec 09, 2025 01:54 am CST
A 38-year-old Ugandan national, Micheal Iga, was arrested in Delhi for defrauding a local resident of Rs 1.9 lakh through an elaborate dating app scam. Operating illegally from Burari, Iga created fake female profiles using his girlfriend's photos to lure victims into a fictitious "rare oil" investment scheme. Police recovered multiple devices, debit cards, and cash upon his arrest, linking him to at least 14 cyber fraud cases across India.
ED Uncovers Massive Money Laundering Scheme: Rapido Driver's Account Linked to Lavish Udaipur Wedding
Nov 28, 2025 10:49 pm CST
The Enforcement Directorate has traced Rs 331.36 crore flowing through a Rapido driver's bank account to fund a luxury wedding at Udaipur's Taj Aravalli Resort. This case reveals how innocent individuals' accounts are being exploited as financial mules in sophisticated money laundering operations connected to illegal betting networks.
Operation Eagle Force: Inside the Takedown of a Nationwide Nigerian Drug Cartel Network
Nov 28, 2025 08:40 pm CST
A sophisticated Nigerian drug cartel operating across India was dismantled through 'Operation Eagle Force', a coordinated effort by multiple law enforcement agencies. The operation resulted in over 50 arrests, seizure of drugs worth Rs 3.5 crores, and freezing of 107 bank accounts used for money laundering. The cartel, directed by a Nigerian operator called "Nick," supplied drugs to over 2,000 consumers nationwide using courier services and sophisticated concealment methods.
Delhi High Court Rules Illegal Betting Profits as 'Proceeds of Crime' Under PMLA
Nov 26, 2025 03:19 pm CST
The Delhi High Court has ruled that profits from illegal betting constitute "proceeds of crime" under the Prevention of Money Laundering Act when funded by tainted money, regardless if betting itself isn't a scheduled offence. This landmark judgment strengthens the Enforcement Directorate's ability to pursue cases where illegal funds are diverted into various activities, potentially expanding PMLA's reach.
Enforcement Directorate Conducts Massive Raids Across West Bengal in Multi-Crore Coal Smuggling Investigation
Nov 21, 2025 08:01 pm CST
The Enforcement Directorate launched extensive search operations across West Bengal, investigating a major coal smuggling operation involving illegal mining, transportation, and storage. Over 100 officials raided 24 locations in Kolkata, Howrah, and Asansol, targeting coal traders and mining contractors. The operation aims to address significant government revenue losses estimated at hundreds of crores of rupees from coal theft.
ED Seizes Dubai Properties Worth Rs 51.70 Crore in Rs 1266.63 Crore SBI Fraud Investigation
Nov 19, 2025 12:42 am CST
The Enforcement Directorate has attached nine luxury Dubai properties worth Rs 51.70 crore linked to Advantage Overseas Private Limited's Rs 1266.63 crore fraud against State Bank of India. Investigation revealed Shrikant Bhasi transferred these properties to his daughter through gift deeds to conceal proceeds of crime generated through illegal merchanting trade transactions and bank fund diversions.