ED Investigates online gambling scam in India

Added: April 10, 2024

A list of online gambling companies with headquarters in small island nations Curacao, Malta, and Cyprus are under investigation by the Enforcement Directorate.

These businesses are accused of defrauding individuals in India of large sums of money. Punit Kumar, also known as Puneet Maheshwari, was one of the key players and was detained upon his return to Delhi from Nepal. He is charged with belonging to an organization that employed online games and scams to defraud people.

The complaints that the ED is looking into were filed in a number of Indian states, including Delhi, Rajasthan, Uttar Pradesh, Haryana, and Chandigarh. The bureau said that Kumar and his crew conducted their scams using servers located in the United Arab Emirates. Additionally, they established a system in India to support their operations in the UAE.

Before his arrest, Kumar had been avoiding the ED. Gold bars, cash, jewelry, luxury cars, and fake ID cards used to set up fake businesses were among the items confiscated during the inquiry. To avoid getting caught, the organization utilized remote servers.

People were duped by the criminal group via internet shopping frauds, part-time jobs, loans, and investment returns. Under false pretenses, victims were pressured to pay extra money when they requested refunds.

Using fictitious documents, Kumar, Kakkar, and their associates established more than two hundred companies, and they maintained control over all transactions through their associates. They engaged in money laundering by sending money overseas using fictitious import and export declarations.

Enforcement Directorate, india