Mumbai, Chennai, Kochi – The Enforcement Directorate (ED) has conducted extensive search operations under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, on 23-24 February at 10 locations across Mumbai, Chennai, and Kochi. The operations targeted several companies and individuals suspected of involvement in illegal online loan, gambling, and betting activities.
The premises of NIUM India Pvt Ltd and its Mumbai-based directors, Xoduz Solution Pvt Ltd, Vikrah Trading Enterprises Pvt Ltd, Tyrannus Technology Pvt Ltd, Future Vision Media Solutions Pvt Ltd, and Aprikiwi Solution Pvt Ltd in Chennai, as well as Raphael James Rozario in Kochi, were all subject to the ED’s scrutiny.
The operations were part of an ongoing investigation into the use of a cluster of mule accounts in Kerala for illegal activities. During the search operation, the ED recovered and seized digital devices, various incriminating documents, and details of various movable and immovable assets of the accused persons and entities. Multiple bank accounts used for laundering were also identified.
In a significant development, the ED has frozen approximately Rs. 123 Crores belonging to shell entities based in Singapore. These funds were parked in the bank accounts of NIUM India Pvt Ltd on their behalf for remitting to Singapore.
The ED’s actions represent a significant step in the fight against illegal online activities and money laundering. Further investigations are ongoing.
