Bengaluru: ED attaches ₹3.70 cr. in online fraud case
The Directorate of Enforcement (ED), Bengaluru Zonal Office, has provisionally attached movable assets worth approximately ₹3.70 crore in connection with an alleged online viewing fraud
The Directorate of Enforcement (ED), Bengaluru Zonal Office, has provisionally attached movable assets worth approximately ₹3.70 crore in connection with an alleged online viewing fraud operated by JAA Lifestyle India Private Limited. According to a release issued on Friday, the attachment was made on July 22, under the provisions of Section 5(1) of the Prevention of Money Laundering Act (PMLA), 2002.
The attached assets comprise bank balances held in accounts of JAA Lifestyle India Pvt. Ltd. The money laundering investigation stems from an FIR registered by Magadi Road Police Station in Bengaluru against the company’s directors and others under various provisions of the Indian Penal Code. The ED said its investigation found that the company operated a membership-based scheme in which individuals were approached through WhatsApp and other online platforms with promises of earning money by viewing digital.
Interested persons were required to register on the company’s online platform and pay ₹1,109 (including GST) to obtain permanent membership and become eligible for the earning programme. According to the agency, the company collected around ₹4.29 crore from the public through the scheme between December 6, 2020, and June 4, 2021. However, the ED investigation allegedly found that the company did not provide any genuine opportunity to earn by viewing.
Instead, the funds collected from members were allegedly diverted for the personal expenses and benefit of the company’s directors. The ED said further investigation under the PMLA is ongoing.
The BriefWire