Chinese Loan Apps Probe: Funds Worth Rs 46 Crore Frozen In Paytm, Razorpay, Others
NDTV
An amount Rs 46.67 crore was detected and frozen in various bank accounts and virtual accounts, probe agency ED said. The funds have been frozen under the anti-money laundering law.
The Enforcement Directorate today said it has frozen Rs 46.67 crore worth funds kept in payment gateways Easebuzz, Razorpay, Cashfree and Paytm after it carried out raids this week against Chinese-controlled loan apps and investment tokens.
The funds have been frozen under the anti-money laundering law.
The searches were launched on September 14 at multiple premises of the accused in Delhi, Mumbai, Ghaziabad, Lucknow and Gaya.
Sixteen premises of banks and payment gateways in Delhi, Gurugram, Mumbai, Pune, Chennai, Hyderabad, Jaipur, Jodhpur and Bengaluru in respect of an investigation related to an app-based token named HPZ and related entities were also covered, the federal agency said in a statement.
