The Directorate of Enforcement (ED), Jaipur Zonal Office, has arrested Mahmud Khan, the mastermind behind a complex fraud scheme involving fake call centers across India. These call centers were targeting and defrauding foreign nationals, primarily US citizens, by offering them loans at lower interest rates.
The investigation revealed that Mahmud Khan was the key person orchestrating this fraudulent operation. He was responsible for setting up the virtual call centers in Jaipur, Mohali, and other parts of India, as well as opening fake bank accounts in the US to facilitate the money laundering.
The ED investigation found that the accused persons had generated around Rs. 55 crore (approximately $7.5 million) in illicit proceeds through this scheme. They had routed the money through various Indian and foreign bank accounts, as well as shell companies, in an attempt to make the funds appear legitimate. Click here to read more news related to Frauds.
Notably, the ED has already attached assets worth Rs. 12.54 crore (approximately $1.7 million) that were acquired using the tainted money. Mahmud Khan played a central role in the entire operation. He coordinated the call centers, set up the fake companies, and managed the flow of illicit funds across borders. He also utilized VoIP technology, recruited tele-callers, and established bank accounts to launder the proceeds, ensuring the stability and security of the entire fraudulent scheme.
This arrest marks the fifth in the case, as the ED, Jaipur had previously apprehended four other accused individuals – Rafiq Khan, Shahnawaz Ahmed Jeelani, Vipin Kumar Sharma, and Viraj Singh Kuntal. The authorities have already filed two prosecution complaints in this matter, and the Hon’ble Special Court has taken cognizance of the same. Click here to read more news related to Frauds.
The investigation is ongoing, and the ED is committed to unraveling the full extent of this complex money laundering scheme and holding all the perpetrators accountable.
