New Delhi, Feb 17 (.) The Enforcement Directorate (ED), Jalandhar Zonal Office, today said it has attached a bank balance of Rs 1.76 crore in connection with a PMLA case related to the alleged digital arrest fraud involving industrialist S. P. Oswal.
The ED initiated its investigation under the Prevention of Money Laundering Act (PMLA) based on an FIR (first information report) registered by the Cyber Crime Police Station, Ludhiana under the BNSS.
According to the agency, the investigation revealed that proceeds of crime generated from eight other cyber-crime cases were also credited in 2024 to the bank account of Frozenman Warehousing and Logistics.
The ED alleged that during the so-called digital arrest of S. P. Oswal, fraudsters impersonating officers of the Central Bureau of Investigation extorted Rs 7 crore from him. The investigation found that the funds were routed through multiple mule accounts allegedly operated by accused Rumi Kalita and Arpit Rathore.
It was further alleged that Rumi Kalita associated with Atanu Choudary and used a bank account belonging to his entity, M/s Frozenman Warehousing and Logistics, to launder illicit proceeds. Funds from other cyber-crime and digital arrest cases were also allegedly credited into the accounts of Frozenman Warehousing and Logistics and Rigglo Ventures Pvt Ltd.
The agency stated that the proceeds of crime were subsequently transferred to multiple mule bank accounts in a systematic manner to divert and conceal the funds. A portion of the money was allegedly layered through shell entities and routed outside India using trade-based money laundering mechanisms, while the remaining amount was used to acquire virtual digital assets.
The attached bank balance of Rs 1.76 crore was lying in the account of one of the alleged mule entities, Mrityunjya Multitrade, which was allegedly used to receive and route proceeds of crime generated from various cyber-crime and digital arrest cases.
The ED further said that several mule bank accounts were opened by inducing economically vulnerable individuals with false promises of arranging loans or providing employment.
Rumi Kalita was arrested by the ED on December 23 last year, while Arpit Rathore was arrested on December 31. Both accused are currently in judicial custody.
Further investigation is ongoing.
. ATK .