Cracking Down on Cyber Fraud: Equine Assets Seized in West Bengal Sting

The Enforcement Directorate has attached over three dozen horses worth approximately Rs 4 crore as part of a money laundering investigation into a cyber fraud network in West Bengal. Key players Kunal Gupta and Pawan Jaiswal ran fake call centres defrauding foreign nationals, with laundered proceeds used to buy and maintain horses.

The Enforcement Directorate (ED) has taken decisive action in a major cyber fraud investigation by seizing over thirty-seven horses, collectively valued at around Rs 4 crore, in West Bengal. The horses belong to KG Stud Farm LLP and have become significant evidence in the money laundering case linked to international fraudulent activities.

The ED has claimed that Kunal Gupta and his associate Pawan Jaiswal, owners of Met Technologies Pvt Ltd, orchestrated an elaborate cyber fraud network targeting victims in countries like the US, UK, and Australia. The scam tricked individuals through fake call centres, offering false technical support and counterfeit loans, ultimately laundering profits through various businesses.

The investigation reveals an intricate layering of proceeds from these crimes, funneled through companies like KG Stud Farm and GD Infotech. These funds were used for acquiring properties and maintaining racing horses, perpetuating a cycle of financial crime. The ED's action signifies a strong move towards cracking down on this international fraud syndicate.

(With inputs from agencies.)