Uttarakhand, India Special Task Force Exposed a China Based Money Laundering Racket

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The Police of Uttarakhand, India claimed that the web racket has duped naïve investors with at least 250cr Rs by guaranteeing to almost double their money in just 15 days but rather by turning it out in the cryptocurrency. 

Pawan Kumar Pandey was detained on a Monday night from Gautam Buddh Nagar, Noida a district in Uttar Pradesh, who is accused of running a ghost corporation to transfer his defrauded money to his alleged “handler in China.” He has been caught with his 19 laptops, 592 SIM, 5 mobile phones, 4 ATM cards, and a passport. 

Uttarakhand police chief (DGP) Ashok Kumar said that after two Haridwar locals, Rohit Kumar and Rahul Kumar Goyal had complained about this scam the racket was scrutinized. 

“A week ago, they claimed that one of their friends told them about a mobile app on Google Play Store named Power Bank, which doubled returns on investment within 15 days. Believing him, they downloaded the app and deposited ₹91,200 and ₹73000,” said Kumar. 

However, after one month of making the deposit, when they didn’t receive any returns, they realized that they were tricked, he added. 

The special task force launched a test to find out that the relevant mobile app was available on the Google Play Store from February 2021 to May 12, 2021, during which a minimum of 50 lakh individuals installed the application. Police also established that the money deposited through the app was moved to the detained person’s bank accounts via payment gates.