Leh, Aug 02: In a significant development, the Enforcement Directorate (ED) on Friday executed its first-ever raids in the Union Territory of Ladakh, targeting a fake cryptocurrency operator. The raids are part of an extensive money laundering investigation, sources said.
The ED conducted searches at six locations across Leh in Ladakh, Jammu in Jammu and Kashmir, and Sonipat in Haryana. These actions are linked to a case against A R Mir and several others, who are suspected of orchestrating the fraudulent scheme.
According to the sources, thousands of investors deposited money into what turned out to be a fake cryptocurrency. These investors reportedly received no returns or any form of currency in exchange for their investments.
The money laundering case is based on multiple FIRs filed in Leh and Jammu and Kashmir, related to the cryptocurrency fraud. Officials disclosed that over 2,508 investors collectively lost more than Rs 7 crore due to this scam.
