x

Like our Facebook Page

   
Early Times Newspaper Jammu, Leading Newspaper Jammu
 
Breaking News :   Wealth getting concentrated in hands of some rich: Gadkari | Srinagar records highest July temperature at 37.4 degrees | Satish Sharma monitors Shri Amarnathji Yatra convoy accident; ensures swift relief, medical response | Ensure quick resolution of public complaints: CM Yogi | DM visits Pargwal, reviews functioning of Revenue Department | Sakeena Itoo visits Nadimarg area | Waqf employees felicitate Dr Andrabi | Ajaz Jan visits District Hospital Poonch to Review Doctor Quarters, Identify Sites for Hospital Bunkers | Danger Looms in Udhampur: Unprotected Transformers Spark Safety Concerns | Sat Sharma releases "Raidass Vandana" aarti dedicated to Guru Ravidass | Kavinder meets former Jaipur Mayors, urges to join Amarnath Yatra | AIIMS Jammu Launches Neurosurgical Operative Services with Brain Tumor Surgery | Illegal structures used for bovine dumping demolished in Khanpura | I Hope To Live For 30-40 Years more: Dalai Lama | Election Commission holding regular dialogue with parties | Himachal becomes first state to launch Aadhaar-based face authentication | Interpretation Of Law, Constitution Has To Be Pragmatic: CJI Gavai | Rotary Club Jammu Elite celebrates Annapurna Day with Spirit of Service | 3 theft cases solved; 6 accused arrested | Director Forest Protection Force starts plantation drive | Two tractors seized for illegal mining | Javid Dar visits Nunwan base camp; inaugurates Waste Management facility | Bovine smuggling bid foiled; 5 bovines rescued | Railway Protection Force Bhopal takes swift action, accused arrested | 3-day Shri Sarthal Devi Ji Yatra culminates with Grand Shobha Yatra, Maha Yagya | SMVD Narayana Hospital performs Bilateral Knee Replacements in 88 years old patients | Doda police reunites mentally unsound person with his family | Free medical check-up camp organized | Directorate of Ayush mourns sad demise of Dr Tahir Mufti | 84 Bn CRPF helped in rescuing injured pilgrims of Shri Amarnath Ji Yatra | Renowned Heart Surgeon Dr Pankaj Goel joins Amandeep Group of Hospitals | Director Agriculture inaugurates Commercial Vermicompost Unit under HADP | Ravinder leads Congress protest in Sunderbani against SCARD bank , discrimination in road projects | Century of Sangh: RSS plans major outreach in J&K during Shatabdi celebrations | GOC interacts with veterans | Implement comprehensive safety measures for vehicles of pilgrims: LG Sinha to officers | 36 devotees sustain minor injuries after 5 buses collide in Ramban | ‘Op Sindoor Impact’: Bilawal Bhutto signals Pak’s willingness to hand over dreaded terrorists to India | Vijay Khanmotra elected Chairman Samba Photographers Union | CM Omar pays glowing tributes to Karbala martyrs | SIA files chargesheet in cross-border narco-terror case | Udhampur police seized 9 vehicles | Indian Army concludes Self Defense Training Workshop at Mendhar | Police register case over attempt to provoke unrest | Samba police seizes 4 dumpers for illegal mining | Nagrad deferred election | Decision on summer vacation extension today: Sakina Itoo | J&K Police attaches property | VC JU releases book “Happy Schools” emphasizing emotional well-being as core to education | ABRSM declares Kuldeep Kumar as new President of Zone Jourian | Parkash Purab of Sri Guru Hargobind Sahib Ji Celebrated with Devotion | NC felicitates newly appointed Additional Spokespersons | DBU hosts FDP on emerging AI tools for Agriculture Scientists and Educators | Sunil Dimple demands bill for restoration of Dogra State | MCM celebrates Vanmahotsav with plantation drive under 'Ek Paed Maa ke Naam' | Children and parents in digital fasting may be away from these technical means | Temple of learning? | Preventing Zoonotic Diseases: A Shared Responsibility | Divine Grace in Sacred Himalayas | Back Issues  
 
news details
ED freezes over Rs 120-cr bank deposits in probe against Chinese-controlled gambling, loan apps
2/28/2024 10:23:51 PM
Agencies
NEW DELHI, Feb 28: The Enforcement Directorate on Wednesday said it has frozen about Rs 123 crore worth bank deposits during recent searches in Mumbai, Chennai and Kochi as part of money laundering investigation against "Chinese-controlled" betting and loan apps which allegedly duped numerous people.
The searches were carried out on February 23-24 against a company named NIUM India Pvt Ltd and its directors based in Mumbai, Xoduz Solution Pvt Ltd, Vikrah Trading Enterprises Pvt Ltd, Tyrannus Technology Pvt Ltd, Future Vision Media Solutions Pvt Ltd, Aprikiwi Solution Pvt Ltd. in Chennai and Raphael James Rozario at Kochi.
A total of 10 locations in Mumbai, Chennai and Kochi were covered, the federal agency said in a statement.
The money laundering case stems from FIRs registered by the Kerala and Haryana Police on the complaints given by various persons who were cheated through online platforms that indulged in giving loans, gambling through apps (mobile applications) being controlled by Chinese entities, the ED said.
The proceeds of crime generated from these apps and similar platforms are aggregated and laundered through mule accounts opened in various banks in Kerala using payment aggregators, the agency said.
These funds, it claimed, were collected and layered through multiple shell companies in Chennai, Bangalore, Delhi, Mumbai etc., and were finally being remitted outside India through various channels such as cryptocurrency, against fake imports of software from Singapore, forex currency purchases, etc.
According to the ED, the accused opened many shell entities in India and they used them to send the alleged illegal funds to shell companies floated in Singapore.
"These Singapore shell entities would raise fake invoices for supply of software/other services in the name of the shell Indian entities in India where the proceeds of crime would have already been aggregated.
"These invoices are shared by a global forex settlement platform named NIUM Singapore Pte Ltd. (Singapore) who has an Indian subsidiary company named NIUM India Pvt. Ltd. to collect the money from Indian entities based on fake invoices." Outward remittances were made to NIUM Singapore Pte Ltd in the name of payment for technical services and such funds used to be credited in the virtual wallet of the Singapore-based shell entities, the agency said.
  Share This News with Your Friends on Social Network  
  Comment on this Story  
 
 
 
Early Times Android App
STOCK UPDATE
  
BSE Sensex
NSE Nifty
 
CRICKET UPDATE
 
 
 
 
 
 
 
 
   
Home About Us Top Stories Local News National News Sports News Opinion Editorial ET Cetra Advertise with Us ET E-paper
 
 
J&K RELATED WEBSITES
J&K Govt. Official website
Jammu Kashmir Tourism
JKTDC
Mata Vaishnodevi Shrine Board
Shri Amarnath Ji Shrine Board
Shri Shiv Khori Shrine Board
UTILITY
Train Enquiry
IRCTC
Matavaishnodevi
BSNL
Jammu Kashmir Bank
State Bank of India
PUBLIC INTEREST
Passport Department
Income Tax Department
JK CAMPA
JK GAD
IT Education
Web Site Design Services
EDUCATION
Jammu University
Jammu University Results
JKBOSE
Kashmir University
IGNOU Jammu Center
SMVDU