ED arrests 2 in call centre 'cheating' case with US citizens

New Delhi, Jul 12 (PTI) The Enforcement Directorate on Saturday said it has arrested two people as part of a money laundering investigation against a Pune-based fake call centre which cheated US citizens worth millions of dollars.

The arrests came after the federal probe agency conducted searches in Ahmedabad, Jaipur, Jabalpur and Pune in the cyber fraud case against Magnatel BPS Consultants and LLP.

The agency also seized 7 kg of gold, 62 kg of silver, Rs 1.18 crore cash and documents related to immovable assets worth Rs 9.2 crore during the searches.

Those arrested were identified as Sanjay More and Ajit Soni. They are partners in the said company and were apprehended from Jaipur, the ED said.

The money laundering case was filed after the ED took cognisance of a Pune Cyber Police FIR against eight individuals allegedly involved in operating the fake call centre, functioning since July 2024, from the 9th floor of Pride Icon Building in Pune.

The accused targeted citizens of the United States of America through a "fraudulent" loan scheme.

Preliminary findings show that the accused posed as representatives of banks and falsely offered loans. Using this deception, they obtained the bank account details and other credentials of US citizens, and these details were then used to transfer funds, the agency said.

The "defrauded" amounts, estimated to be in millions of US dollars, were routed through accomplices based in the US and subsequently converted into cryptocurrency, primarily in the form of USDT, it said.

The digital assets thus obtained were stored in crypto wallets, including Trust Wallet and Exodus Wallet, according to the ED.

The "proceeds of crime" were transferred to India and encashed in Ahmedabad using traditional informal channels like 'Angadiyas' (a group of people who illegally move large amounts of cash physically).

"A share of the fraudulent gains were then funnelled through mule accounts and credited into the bank accounts of the company, which were used primarily for the purchase of software and payment of rent for the office premises from which the fraudulent activities were being conducted," the ED said.

The agency found that a "major" share of the funds was utilised for the purchase of personal assets like bullion, jewellery, and vehicles. PTI NES RHL