Fake Cryptocurrency Business Case: ED Launches First Raid In Leh

In its first-ever operation in Ladakh, the Enforcement Directorate on Friday launched raid in Leh. It is under the provisions of the Prevention of Money Laundering Act in connection with a fake cryptocurrency business case.

As per the information shared by officials, Srinagar Wing of ED are conducting the operation. This operation is first of its kind in Ladakh, a region which otherwise enjoyes a tax holiday.

Also Read: Wayanad Landslides Death Toll On Surge At 297, 206 Untraced

“Searches are underway in connection with the cryptocurrency business and are being conducted at six premises simultaneously in Leh, Sonipat (Haryana) and Jammu.

“The searches are being carried out at the business premises of M/S A.R.Mir and others under the Prevention of Money Laundering Act (PMLA). Thousands of investors have invested money in fake currency namely ‘Emollient Coin’ and these investors have got nothing in return,” the officials said.

“Several FIRs are registered in Leh and there are several complaints in J&K. Promoters of the fake currency business are covered under today’s search operation,” officials said.

The CRPF is assisting the ED sleuth in the operation. Local police are also volunteering in searches in fake cryptocurrency business case.

The ED officials said details would be shared with the media after the conclusion of the day’s search operation.