Probe Agency Attaches Assets Of Kerala Man Behind Rs 1,200 Crore Crypto Fraud
NDTV
The action by the central anti-money laundering agency has been taken against Nishad K and his associates who allegedly lured depositors in the name of launching 'Morris Coin cryptocurrency'.
The Enforcement Directorate on Monday said it has attached assets of a Kerala-based businessman who allegedly cheated over 900 investors to the tune of Rs 1,200 crore in the name of offering cryptocurrency to them.
The action by the central anti-money laundering agency has been taken against Nishad K and his associates who allegedly lured depositors in the name of launching 'Morris Coin cryptocurrency'.
A provisional order under the Prevention of Money Laundering (PMLA) has been issued to attach properties that include "balances in multiple bank accounts of Nishad K and his companies, immovable property including the land of an associate close to Nishad K and Indian Rupee equivalent of cryptocurrencies purchased out of the proceeds of crime by a close associate".
The total value of the attached assets is over Rs 36.72 crore.
