GUWAHATI: The Directorate of Enforcement (ED) in Guwahati intensified its efforts against financial fraud by conducting multiple search operations across the city on Wednesday, September 25. The actions were taken under the Prevention of Money Laundering Act (PMLA), 2002.
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The investigation focused on a fraudulent trading platform known as "TradingFX" (tradingfx.live), which allegedly scammed numerous investors. During the raids, the ED froze assets worth ₹6.04 crore across 72 bank accounts, believed to be Proceeds of Crime (POC).
The ED took to X to put out, “ED, Guwahati has conducted search operations at various locations in Guwahati (Assam) on 18/09/2024 under the provisions of PMLA, 2002 in the case of fraudulent Trading App called “TradingFX” (//tradingfx.live). During the search operations, Proceeds of Crime (POC) to the tune of ₹6.04 Crore in 72 Bank Accounts were frozen.”