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ED seizes Rs.14 crore gold in Indian Bank Locker


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In a significant development, the ED has seized 19.5 kg of gold from the bank locker of the mother of cyber fraudster Punit Kumar Maheshwari. The gold was hidden in the locker of Puneet Kumar’s mother at the Indian Bank branch in Ballabhgarh, Faridabad. The Enforcement Directorate (ED) carried out the operation on May 3, 2024, based on information received from secret sources.

The value of the seized gold is estimated to be around Rs 14.4 crore. This action was taken by the ED as part of their investigation into cybercrimes and the proceeds of those crimes. Puneet Kumar, also known as Punit Kumar Maheshwari, was arrested on April 3, 2024, at Delhi’s IGI Airport from Nepal. He has been in judicial custody since then.

Investigation and Seizures by the Enforcement Directorate

The ED has been conducting an investigation into cyber fraud and money laundering activities linked to Puneet Kumar. In the months of February and March 2024, the ED conducted searches at 14 premises and seized various assets, including foreign-made gold bars weighing a total of 8 kg. The total value of the seized assets, including the gold bars, was more than Rs 5 crore.

During the searches, the ED also recovered Rs 75 lakh in cash, jewelry, high-end luxury watches, and luxury cars such as Mercedes, Audi, and Kia from Puneet Kumar’s premises. Additionally, electronic devices and objectionable documents were seized as well.

Puneet Kumar’s Illegal Income and International Connections

According to the police investigation, Puneet Kumar has allegedly earned an illegal income of Rs 4,978 crore through cybercrimes and online gaming in India between the period of 2020 to 2024. This income was then remitted abroad. Puneet and his associates were involved in importing large consignments of high-value items like rose oil and solar panel machinery from countries such as Dubai, Hong Kong, and China. The aim was to earn income from abroad through cybercrime.

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