Cyber Crime Case: Grenadian National in Dubai Comes Under ED Scanner
The development comes amid an ongoing cyber crime investigation, with the Enforcement Directorate examining the case.
- Grenadian National in Dubai Identified as Beneficial Owner of Delhi Firm in Alleged Cyber Fraud Money-Laundering Network
The Enforcement Directorate (ED) has identified a Grenadian national based in Dubai as the ultimate beneficial owner (UBO) of a Delhi-based company allegedly linked to a large-scale betting, gaming and cyber fraud-related money-laundering network in India.
According to the agency, searches were conducted between May 13 and May 15 at premises linked to Pay10 Services Private Limited, formerly known as Bhartipay Services Private Limited, Asian Checkout Private Limited (ACPL) and other entities. The searches covered locations across Delhi-NCR, Ludhiana and Mandi Gobindgarh in Punjab, and Agra in Uttar Pradesh.
The ED alleged that Pay10 and ACPL operated as payment aggregators while facilitating transactions connected to betting, gaming and cyber fraud activities. Investigators reportedly found a network involving fake bills, fictitious merchants and bogus websites that were allegedly used to route and conceal illicit funds.
As per the agency, several websites were created to show fake sales of goods and services despite there being no genuine underlying business activity. The funds generated through these transactions were allegedly routed through payment gateways before being layered, diverted and concealed to disguise their source.
The ED further claimed that certain chartered accountants were also involved in the alleged network. The investigation has reportedly uncovered a structured mechanism through which hundreds of crores of rupees were allegedly laundered using fraudulent invoices, including GST-related invoices.
The agency said Pay10 and ACPL allegedly onboarded fake or suspicious merchants, generated fraudulent invoices and enabled transactions connected to betting, gaming and cyber fraud. The alleged proceeds of crime were also linked to online betting, bogus garment businesses and other unlawful activities.
During the searches, the ED said it seized ₹1.4 crore in cash, jewellery and bullion valued at approximately ₹65 lakh, along with digital devices. Freezing orders were also issued under the Prevention of Money Laundering Act (PMLA) against four luxury vehicles allegedly linked to Pay10 and ACPL.
The investigation remains ongoing, with the ED continuing to examine the financial trail and the role of individuals and entities allegedly connected to the network.
