Karnataka Cyber Crime Division of CID has busted Rs 290 crore Hawala racket and arrested 11 people including two Chinese, two Tibetan Nationals, and five people who were acting as Directors of the Shell companies.
Police said in a release here on Saturday that a criminal case was registered vide CCPS Cr No 08/2021 u/s 66 (D) IT Act & 420 IPC. On 1-05- 2021 by Krishna Kumar, Police Inspector, CCD, CID. The Investigating team supervised by M D Sharath, Superintendent of Police, Cyber Crime Division, CID were successful in arresting accused persons including 2 Chinese and 2 Tibetan nationals and five persons acting as Directors of the Shell companies.
During the course of the investigation, it was found that Anas Ahmed, a Kerala-based businessman is the main person involved in this hawala & money laundering racket. We have also identified that he has very close connections with the Chinese hawala operators which have come to light during the course of the investigation. He had opened shell companies in the name of Bullfinch technologies, H & S ventures, and Clifford ventures to route the money.
Anas Ahamed is married to a Chinese national and incidentally, he did his studies in China.
Police said that Online Rummy applications hosted by him were later camouflaged and converted into different applications like Power Bank application, Sun Factory application seeking investment from the public promising good returns. An unusual spike was seen in user investments on the day Anas Ahmed announced much higher returns. As per his plan, the apps from Google Playstore and other websites were removed and he absconded with the money.
During the investigation, it was found that a total of Rs 290 Crore inflow to his bank accounts. The Cyber Crime Division was successful in freezing a significant portion of money from the account.
It is also noted during the investigation that there is a huge spike in the opening of shell companies since November 2020. We have also observed that the Chinese handlers are in possession of a huge number of shell companies and bank accounts. Lured by the offer of the Chinese nationals, many innocent Indians and Tibetans have fallen in their trap to open shell companies and open bank accounts for them. Arrested 9 accused were from Delhi, Surat, and other places. There are few more cases registered in various police stations of Karnataka State.