Pramesh S Jain
The Directorate of Enforcement (ED) has attached movable assets worth Rs.2.77 Crore including Crypto currency of Rs.18.05 lakhs and shares of Rs.4.17 lakhs under provisions of Prevention of Money Laundering Act (PMLA),2002 in the Power Bank app related scam.
The ED initiated investigation on the basis of FIR registered by Cyber Crime Police Station,CID,Bengaluru in June-2021 against 13 accused entities under various sections of Information Technology Act and under Indian Penal Code.
Investigation revealed that the accused entities registered themselves with payment aggregators purporting that they are running business in the category of gaming,social networking and e-commerce whereas the public was induced to invest their money through many schemes run in the name of Powerbank and Sunfactory app offering huge rate of interest up to 18 per cent to be paid on daily and weekly basis.
As per the information received from CID,13 accused involved in the scam had collected nearly 342 Crore from the public within a short span of 3 months during March 2021 to May-2021.
After collecting huge amount from investors the accused escaped without paying the returns.The officials earlier arrested prime accused Anas Ahmed and recovered properties worth 40.6 crore from him.
