New Delhi, Nov 16 The Enforcement Directorate (ED) seized Rs 70 lakh in cash and froze 110 mule bank accounts during searches at five locations across Delhi-NCR and Jaipur against a narcotics trafficking and online betting network that used Dubai-based cryptocurrency wallets to transfer money, an official said on Sunday.
The ED, Delhi Zonal Office, conducted search operations under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, on Friday, the official said in a statement.
The case pertains to the seizure of 82.53 kilograms of cocaine by the Narcotics Control Bureau (NCB) in November 2024, which led to the registration of Complaint No. 36/2024 by NCB against several individuals and entities involved in a global drug trafficking syndicate.
In connection with an ongoing investigation into the narcotics trafficking and money laundering network, the ED seized unaccounted cash amounting to Rs 70 lakh, along with incriminating documents, digital devices, and financial records, said the ED statement.
The searches against the drug network also exposed an online betting and gambling network being operated through mobile-based applications.
The search operation resulted in the freezing of 110 mule bank accounts, including 73 accounts linked with UPI IDs and digital wallets, that were actively used for handling transactions related to the betting operations, said the statement.
Documents and digital evidence seized during the searches have exposed the use of Dubai-based cryptocurrency wallets for the transfer of funds.
The searches form part of the ED's continued efforts to dismantle the financial ecosystem supporting narcotics cartels and digital laundering networks.
An ED official said the investigation is underway to trace the ultimate beneficiaries and to identify additional domestic and foreign assets created from the Proceeds of Crime.
The federal probe agency is also sharing with other enforcement agencies information related to the 110 "mule" bank accounts, UPI IDs, and digital wallets used for transactions related to betting.
The Dubai-based cryptocurrency wallets have also been flagged for other financial crime detection agencies to probe their involvement in similar illegal activities.
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