ED freezes ₹18.4cr in 129 accounts over fake trading apps
The Enforcement Directorate (ED) just froze ₹18.4 crore across 129 bank accounts tied to a big online investment scam.
Scammers used social media and WhatsApp to promote fake stock market and IPO schemes, tricking people into using apps like CHC-SES, ALICE, and ESCORTS.
These apps showed fake profits but blocked withdrawals unless users paid extra fees disguised as taxes.
ED traces money through mule accounts
The ED found that the stolen money was moved through mule accounts, payment gateways, and even charitable trusts to hide its trail.
Links between companies (like shared directors and addresses) helped connect the dots.
The investigation started after cybercrime cases popped up in West Bengal, with searches carried out across Mumbai, Thane, Bengaluru, and Gurugram earlier this month, as the ED keeps digging into who's behind it all.