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The arrested accused have been recognized as Makbul Abdul Rehman Physician, his son Kaashif Makbul Physician, Mahesh Mafatlal Desai, and Om Rajendra Pandya. They had been arrested underneath Part 19 of the Prevention of Cash Laundering Act, 2002 (PMLA) in reference to investigations into a number of cybercrime instances involving proceeds of crime exceeding Rs 100 crore.
Within the ongoing case, Makbul Physician, his sons Kaashif Makbul Physician and Bassam Makbul Physician, together with Mahesh Desai, Om Rajendra Pandya, and their accomplices, allegedly defrauded gullible people via a number of cyber frauds, together with digital arrests, foreign currency trading scams, and threats utilizing pretend authorized notices from regulation enforcement businesses such because the Supreme Courtroom of India and the ED.
Not too long ago, to deal with the rising menace of faux summons being circulated by fraudsters and digital scammers, the Enforcement Directorate (ED) has introduced that it’ll now situation summons with a QR code and a two-step verification system.
As per the findings to this point, the accused are concerned in laundering proceeds of crime exceeding Rs 100 crore. Their modus operandi included opening and arranging financial institution accounts within the names of staff, associates, or employed individuals for accumulating and accumulating the illicit funds. The accused additionally used pre-activated SIM playing cards obtained via fraudulent means to function these accounts.
Investigations revealed that the accused laundered the proceeds of the crime by changing them into cryptocurrency (USDT) and routing the money via numerous Hawala operators to evade regulatory scrutiny.
The 4 arrested people had been produced earlier than the Hon’ble Particular Courtroom (PMLA), Ahmedabad, which has granted 5 days of ED custody for additional investigation.
Additional investigation within the case is underway.
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