ED attaches property of China-based company in job fraud

NT Correspondent

Bengaluru: Officials of the Directorate of Enforcement (ED) have attached movable assets worth Rs 6.47 crore, including Rs 71.3 lakh in the form of cryptocurrency in the Chinalinked parttime job fraud case under the Prevention of Money Laundering Act.

The investigation has uncovered a modus operandi under which vulnerable young individuals were allegedly being deceived by certain Chinese persons using a mobile application named "Keepsharer."

According to sources, these individuals allegedly promised part-time job opportunities and collected money from the victims.

The funds collected through this scam were funnelled through the bank accounts of multiple individuals and companies and then converted into cryptocurrencies, which were subsequently transferred to China-based cryptocurrency exchanges.

The ED has initiated an investigation on the basis of an FIR registered by South Cyber Economics and Narcotics (CEN) Police Station, Bengaluru, in the matter.