Enforcement Directorate
ED arrests two for laundering ₹400 crore from online frauds
This is a press release from the Directorate of Enforcement (ED), Chennai, announcing the arrest of two individuals under the Prevention of Money Laundering Act (PMLA), 2002, for orchestrating a network that laundered over Rs. 400 Crore in…
- Roshan Fiaz and Ammar were arrested on 30.10.2026 under PMLA, 2002.
- The investigation relates to money laundering of proceeds from online frauds (investment schemes, jobs, share market) totaling over Rs. 400 Crore.
- The modus operandi involved transferring victim funds to mule accounts, breaking them into small amounts, and converting portions into USDT cryptocurrency.