The Enforcement Directorate (ED) has filed a charge-sheet under the Prevention of Money Laundering Act against 299 entities, including 10 individuals of Chinese origin, in connection with a cryptocurrency scam. Initiated from an FIR by the Cyber Crimes Unit of the Kohima Police, the scam involved promising high returns through mining Bitcoins and other cryptocurrencies via the “HPZ Token” app. The ED alleges the use of shell entities and dummy directors to layer proceeds of crime, fraudulently receiving funds for illegal online activities. Countrywide searches have resulted in the seizure of assets and deposits worth Rs 455 crore.
Anti-Money Laundering Charge-Sheet Filed Against 299 Entities in Cryptocurrency Scam
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