ED attaches Rs 1.8 crore bank account as part of probe into how fraudsters laundered money exrtorted from industrialist

Jalandhar: The Enforcement Directorate, Jalandhar zonal office, has issued a provisional attachment order for a bank account containing Rs 1.76 crore as part of its probe into how fraudsters laundered money they had extorted from textile industrialist S P Oswal in 2024.The Feb 14 attachment order has been issued under the provisions of the Prevention of Money Laundering Act (PMLA).
ED initiated the investigation on the basis of an FIR registered at the cybercrime police station in Ludhiana. "Investigation conducted so far revealed that proceeds of crime generated from eight other cyber-crimes were also credited in the bank account of M/s Frozenman Warehousing and Logistics on Aug 28, 2024," ED said in a statement.ED investigation revealed that during the digital arrest of Oswal, the fraudsters impersonating officers of the Central Bureau of Investigation extorted Rs 7 crore from him. The investigation revealed that funds were routed through multiple mule accounts operated by the accused, Rumi Kalita and Arpit Rathore. It was determined that Kalita established an association with Atanu Choudary and utilised the bank account belonging to his entity, M/s Frozenman Warehousing and Logistics, to launder illicit proceeds. Funds derived from other cyber-crimes/digital arrest cases were also credited into the accounts of M/s Frozenman Warehousing and Logistics and M/s Rigglo Ventures Pvt Ltd, ED said.The proceeds of crime were subsequently transferred to multiple mule bank accounts in a systematic manner, thereby facilitating the diversion and concealment of the proceeds of cyber-crime. A portion of the PoC was further layered through various shell entities and routed outside India by adopting trade-based money laundering mechanisms. The remaining proceeds were utilised for acquisition of virtual digital assets. The attached bank balance of Rs 1.76 crore was lying in the bank account of one of the mule entities, M/s Mrityunjya Multitrade, and this bank account was used for the purposes of receiving and routing PoC generated from various cyber-crimes/digital arrests. "Further investigation revealed that multiple mule bank accounts were utilised for laundering the proceeds of cyber-crime. These mule accounts were opened by inducing economically vulnerable individuals with false promises of arranging loans or providing employment," ED said.Earlier, searches were conducted on Jan 31, Dec 22, and Dec 31, 2025, in the case, and the accused Kalita was arrested on Dec 23 last. Accused Arpit Rathore was also arrested on December 31, and both accused are presently under judicial custody. 22, and Dec 31, 2025, in the case, and the accused Rumi Kalita was arrested on Dec 23 last. Accused Arpit Rathore was also arrested on December 31, and both accused are presently under judicial custody.