The first trial by ED in Ladakh, action taken in this case

The Enforcement Directorate (ED) conducted the first raid in the Union Territory of Ladakh. This test has been conducted today i.e. August 2nd in the fake crypto currency case. The raid is being conducted as part of a money laundering investigation into fake cryptocurrency operators. ED is involved in the fake cryptocurrency operation case, ED has conducted these raids in 6 locations namely Leh in Ladakh, Jammu in Jammu and Kashmir and Sonipat in Haryana. This is the first time that ED trial is being conducted in Ladakh. Officials said the team was conducting the raid as part of a money-laundering investigation. The agency is investigating AR Mir and others in the fake cryptocurrency operation case, who were allegedly involved in the counterfeiting business. The case is being investigated under PMLA and the investigation of the case is related to several FIRs registered in Leh and the Union Territory of Jammu and Kashmir, where several fake currency cases have been registered. Thousands of investors have allegedly invested their money in the fake currency, but in return for this investment, they have not received any return or benefit. The matter is being investigated under provisions of the Prevention of Money Laundering Act (PMLA). Based on the complaint received from the Leh District Magistrate, Rs. 7 crores invested, on 5th March 2020, Jammu and Kashmir Police registered an FIR against AR Mir and Ajay Kumar Chaudhary under Section 420 of the IPC. An FIR was registered at Leh Police Station in 1860. According to the registered FIR, District Magistrate Leh constituted a committee to investigate the matter, which held an inquiry against their agents. In this case, it was revealed that A.R.Mir and his agents were running a fake cryptocurrency business under the name of Emollient Coin Limited in Leh, which was sealed in the fraud case. A.R.Mir and his agent invested many innocent people and promised to double their investment which was a lie. People had invested a total of more than Rs.7 crores in this fake crypto investment. Up to 40 percent income guaranteed to people.

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