ED Attaches Rs 2.85 Crore Assets In Case Of Cyber Fraud Against Foreign Nationals

Enforcement Directorate

The Enforcement Directorate has attached movable and immovable assets worth ₹2.85 crore in connection with a cyber fraud case involving the defrauding of foreign nationals, the agency said in a statement.

According to the ED, its Chandigarh Zonal Office issued the attachment order on September 30 under the Prevention of Money Laundering Act (PMLA), 2002. The case pertains to Vikramjeet Singh and others, who allegedly cheated a U.S. citizen and several other victims to the tune of ₹11.50 crore.

The attached assets include two immovable properties valued at ₹1.26 crore, purchased using the proceeds of the crime, in the names of Sarita Devi and Jasbir Singh, parents of the main accused. Additionally, fixed deposits and bank balances worth ₹1.58 crore have been frozen.

The ED said its probe revealed that Vikramjeet Singh and Anchal Mittal, in connivance with others, operated a fake call centre posing as employees of the Bank of America. “They illegally accessed the computer of a U.S. citizen and committed fraud amounting to ₹11.54 crore,” the agency stated.

Money Laundering Through Crypto and Relatives’ Accounts

According to the ED, the accused converted the illicit funds into cryptocurrency, which was later sold, and the sale proceeds laundered through multiple bank accounts held by family members and associates.

“The proceeds of crime have also been generated in cash and used to buy immovable properties,” the agency added. “Vikramjeet Singh routed the money through various accounts, purchased properties in the names of relatives, extended loans to individuals, and made advance payments to builders using the tainted funds.”

Searches & Seizures

Earlier, on July 29, the ED conducted search operations at the residences of Vikramjeet Singh and his associates. During the raids, officials seized incriminating documents, digital devices, and froze ₹43.58 lakh across several bank accounts linked to the suspects.

The ongoing probe aims to trace the complete money trail, identify other potential beneficiaries, and determine how the fraud network was set up to target foreign nationals through phishing and impersonation schemes.