Srinagar: The Enforcement Directorate (ED) Srinagar said on Wednesday that it has attached two bank accounts and immovable property worth Rs 2.34 crore in a bogus cryptocurrency scam.
A press statement by ED said that ED Srinagar has provisionally attached deposits in two bank accounts and immovable properties situated at Ghati River Valley, Dehradun, worth Rs 2.34 Crore in the Bogus Cryptocurrency Scam, namely “Emollient Coin” which was operating under the company named M/S The Emollient Coin Limited, UK.
The ED said that in India, the company was represented by Naresh Gulia (Promoter in India & Abroad). ED initiated investigation on the basis the FIR registered by Ladakh Police at Police Station Leh, Ladakh under section 420 of IPC, 1860 against Attiul Rehman Mir (a resident of Leh) and Ajay Kumar alias Ajay Kumar Choudhary (a resident of Jammu) in the matter of illegal bogus cryptocurrency scheme namely “Emollient Coin”.
ED investigation revealed that Naresh Gulia was the actual mastermind for running the business of selling the fake cryptocurrency “Emollient Coins” and a chain (multi-level) marketing business.
He also designed and managed a fake mobile application, “Emollient Coin”, for the said fraud scheme, which was under the control of Naresh Gulia.
However, the said company was deliberately struck off & dissolved on 05-03-2019. This scheme was floated by Naresh Gulia in collusion with Ajay Kumar Choudhary and Attiul Rehman Mir for doubling the investment of the investor/customers within a period of 10 months.
The value of the said fake coin was controlled and down by Naresh Gulia deliberately before the completion of the lock-in period, and the said mobile application suddenly stopped working in the month of October-November 2019.
Thus, Naresh Gulia, in collusion with Attiul Rehman Mir and Ajay Kumar Choudhary, cheated hundreds of gullible people who lost their hard-earned money.
The ED added that Naresh Gulia is in possession of Proceeds of Crime (POC) to the tune of Rs 6.05 crore (Rs 2.05 Crore received from Ajay Chaudhary and Rs 4 Crore received from A. R. Mir), which was nothing but the POC received by cheating innocent investors/customers of Leh and Jammu.
Earlier in this case, ED has seized an amount of Rs 91 Lakh from the residence of Naresh Gulia and attached 11 immovable properties relating to Naresh Gulia, Ajay Kumar Choudhary and Attiul Rehman Mir situated at Jammu, New Delhi and Sonipat (Haryana), amounting to Rs 3.66 crore provisionally. Thus, total attachment in this case is now Rs 6 crore besides seizure of Rs 91 Lakh.
The ED added that further investigation is going on in the case.
(IANS)
