The Directorate of Enforcement (ED) has attached assets worth Rs 59.44 crore in connection with the Power Bank App fraud case. The ED initiated the investigation based on FIRs registered by the Uttarakhand Police, Special Cell Delhi Police, and Karnataka Police. The fraud involved fake apps on the Google Play Store that promised high returns on investments. Chinese nationals, along with Indian professionals, set up shell companies to cheat the Indian public.
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These 3 Android investment apps cheated users of Rs 150 crore, ED attaches assets worth Rs 59 crore
The Directorate of Enforcement (ED) has attached assets worth Rs 59.44 crore in connection with the Power Bank App fraud case. The ED initiated the investigation based on FIRs registered by the Uttarakhand Police, Special Cell Delhi Police, and Karnataka Police. The fraud involved fake apps on the Google Play Store that promised high returns on investments. Chinese nationals, along with Indian professionals, set up shell companies to cheat the Indian public.
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
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