The Enforcement Directorate (ED) confiscated a flat, land, and cryptocurrencies valued at Rs 10.86 crore from individuals who deceived numerous investors by offering high returns on land purchases at discounted rates. The ED’s Chandigarh Zonal Office provisionally attached assets worth Rs 10.86 crore, including cryptocurrencies like Ramifi Tokens worth Rs 4.79 crore, under the Prevention of Money Laundering Act, 2002. The accused, including Sandeep Yadav and Manoj Yadav, diverted funds obtained through fraudulent means to acquire various properties.
In a case involving fraudulent land sales and illegal cryptocurrency schemes, the Enforcement Directorate conducted search operations in Gurugram last August. Sandeep Yadav, Manoj Yadav, and others were under investigation for deceiving the public with false promises of high returns. The searches resulted in the seizure of incriminating documents, digital devices, and the freezing of 17 bank accounts with a combined balance of around Rs 42 lakh linked to the accused.
The investigation, initiated based on an FIR filed by the Haryana Police against Sandeep Yadav, Manoj Yadav, and others, uncovered their involvement in defrauding the public through deceptive land sales. The fraudulent gains were then channeled into various assets, including cryptocurrencies, with the help of their associates. The total value of identified immovable properties exceeded Rs 15 crore, according to the ED.
