CBI Busts Network With Foreign Link Which Scammed Indians Of Over Rs 300 Crore
NDTV
The agency's investigation also points to the involvement of over 100 shell companies.
In an investigation spanning over a year, the CBI has unearthed a sophisticated, complex network involving foreign elements which cheated Indians of hundreds of crore by luring them with job and loan offers as well as fooling them into investing in Ponzi schemes.
A complex web of UPI accounts, cryptocurrency and international money transfers was used to move the money and the agency recently carried out raids in several places linked to the suspects after analysing the money trail.
Worryingly, the CBI investigation points to the involvement of 137 shell companies, many of which were registered with the Registrar of Companies in Bengaluru, and their directors. Some of these directors were also associated with a Bengaluru-based payout merchant.
