Meghalaya Ponzi scam: ED attaches Rs 1cr assets in ‘Global Media App’ case | Guwahati News
Shillong: The Enforcement Directorate (ED), Shillong sub-zonal workplace, has provisionally connected movable properties price Rs 1.06 crore below the Prevention of Money Laundering Act (PMLA), 2002, in reference to its ongoing investigation into the ‘Global Media App’ fraud case. The case includes large-scale dishonest of traders via a fraudulent on-line incomes and funding scheme.The ED’s investigation was launched on the idea of an FIR registered by Madanriting Police Station in East Khasi Hills district on a criticism alleging dishonest via the ‘Global Media App’ cellular software.“ED investigation revealed that the accused persons operated the ‘Global Media App’ as a Ponzi-style investment scheme under the guise of an online advertising platform promising daily passive income to users for watching advertisement videos. Users were induced to upgrade to various VIP membership plans by paying substantial amounts with assurances of high daily returns and referral commissions,” an ED assertion mentioned.“During the investigation under PMLA, 2002, it is revealed that the fraudsters extensively promoted the application through a Telegram channel administered by individuals using foreign mobile numbers, and collected funds from gullible investors through bank transfers, UPI transactions and crypto-currency wallets. The scheme remained operational from 03.06.2022 to 12.10.2022, after which the perpetrators abruptly shut down the application and absolved with the collected funds,” the assertion mentioned.The ED investigation has established that Proceeds of Crime amounting to roughly Rs 45.33 crore had been generated via the fraudulent scheme. The probe recognized a number of financial institution accounts, service provider IDs, cost gateway accounts and crypto wallets used for assortment and layering of the proceeds of the crime.“It was further revealed that funds collected through the fraudulent application were routed through various layers of bank accounts and merchant entities enrolled in payment gateways, which are mule in nature. Investigation also revealed the use of crypto-currency wallets operating on the TRON block-chain network for collection and transfer of UST tokens,” the assertion mentioned.“During investigation, ED conducted inquiries with various banks, payment gateways, Google, Telegram and crypto-currency exchanges. Analysis of financial transactions and block-chain transfers led to identification of proceeds of crime presently available in various bank accounts, which have been provisionally attached under Section 5 of the MLA, 2002,” the assertion mentioned.“The investigation has further established that the ‘Global Media App’ fraud has a significant international dimension. The Telegram channel through which the application was promoted was administered by four individuals whose mobile numbers were registered in Cambodia (+855) and Malaysia (+60), and the Gmail accounts used to operate the back-end of the App were also registered with ‘Terms of service country: Cambodia’, indicating that the operational control of the scheme was located outside India throughout the operative period,” the ED acknowledged.“A considerable part of the Proceeds of Crime, equal to roughly Rs.