ED freezes Bitcoins worth Rs 7.12 crore in E-nuggets case

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In a latest development, the Enforcement Directorate (ED) has seized Rs 1.65 crore in cash as part of its investigation in the E-nuggets gaming app case, apart from freezing Bitcoins worth Rs 7.12 crore. According to reports, assets worth Rs 51.16 crore have been seized or frozen by the officials in the case so far.

The ED were on the lookout for Shubhojit Srimani, a Dubai-based businessman, one of the prime suspects in the malicious fraud case, who was operating the E-nuggets application from abroad. The agency conducted search operations at two premises in Kolkata, hot on the trail of the absconding Srimani. The officials got their hands on cash amounting to a staggering Rs 1.65 crore and froze Bitcoins (44.5) worth Rs 7.12 crore as per the latest exchange rate. Apart from the cash and Bitcoins the search party also discovered several incriminating documents from the premises under the provisions of the Prevention of Money Laundering Act (PMLA).

The ongoing investigation was initiated after a First Information Report (FIR) was registered by the Kolkata Police against businessman Amir Khan last year. The FIR was filed after complaints from the Federal Bank authorities in a city court came to light. Khan was accused of launching an app E-nuggets for the sole purpose of bilking the public of their money.

The mobile gaming app stopped withdrawal from its platform after garnering huge amounts of money from investors. Further, the data from the servers were wiped clean by the accused, who attempted to transfer the gathered money overseas only to be tracked and apprehended by the ED. It has been reported that more than 300 accounts were used to launder the money, according to the agency.

Amir Khan, who was one of the prime suspects in the case, was nabbed by the officials last month. A search party seized Rs 17.32 crore in cash from his father’s residence during an operation conducted by the ED and froze over 85.91 Bitcoins worth about Rs 13.56 crore traced to the Binance crypto exchange.