Chennai, Nov 5 (SocialNews.XYZ) The Enforcement Directorate (ED), Chennai Zonal Office, has arrested two persons, identified as Roshan Fiaz and Ammar, in connection with an investigation into alleged online fraud and suspected money laundering.
The arrests were made on October 30, 2026, under the provisions of the Prevention of Money Laundering Act (PMLA), 2002. Both accused were subsequently produced before the Special PMLA Court in Chennai, which remanded them to 14 days of judicial custody.
The arrests mark a significant development in the central agency's investigation into alleged financial irregularities linked to online fraudulent activities.
The ED is responsible for investigating suspected money laundering, including cases involving proceeds generated through cybercrime, financial fraud and other scheduled offences under the PMLA.
Under the legislation, investigators can examine financial transactions, trace suspected proceeds of crime and identify assets allegedly acquired through unlawful activities.
The arrest of the two accused brings the case under judicial scrutiny, with further proceedings expected before the designated special court. Investigators are examining the alleged movement of funds generated through online fraud, including the possible use of banking channels and digital financial transactions to conceal their origin.
In an earlier investigation linked to Roshan Fiaz, the ED had conducted searches across Tamil Nadu, Kerala and Srinagar in July, seizing cryptocurrency assets and examining suspected mule bank accounts and shell companies.
Reports on the latest investigation indicate that the alleged fraud network may have cheated hundreds of victims across India, with the suspected amount exceeding Rs 400 crore.
The allegations include fraudulent investment opportunities and employment-related schemes.
The ED's latest action highlights the growing scrutiny of cyber-enabled financial crimes, particularly cases where fraudulently obtained money is allegedly transferred through multiple accounts or converted into digital assets.
The agency's investigation and subsequent court proceedings will determine the extent of the accused persons' alleged involvement and whether additional individuals or entities were connected to the transactions.
The allegations against Roshan Fiaz and Ammar remain subject to judicial determination.
Source: IANS
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