CBI raids 15 locations in online fraud linked to overseas fintech platform
New Delhi (PTI): The CBI has conducted searches at 15 locations across multiple states in connection with a large-scale online financial fraud involving overseas fintech platform 'Pyypl', officials said Thursday.
The Central Bureau of Investigation (CBI) is now seeking custody of the alleged kingpin of the gang, Ashok Kumar Sharma, a chartered accountant, who was recently arrested by the Enforcement Directorate (ED).
The case was referred to the CBI by the Union home ministry's anti-cyber crime wing -- I4C. Following this, the agency registered a case and carried out searches on Wednesday in Delhi, Uttar Pradesh, Rajasthan and Punjab, they said.
According to investigators, Sharma was allegedly running a large-scale organised scam involving fraudulent investment schemes, cyber fraud, and illicit cryptocurrency transactions, and part-time job fraud involving offshore withdrawals and overseas fintech platforms from his office in Bijwasan on the Delhi-Gurugram border, which came to be known as the "Bijwasan Group".
The gang allegedly defrauded victims of Rs 900 crore last year alone. The proceeds were routed and laundered through a network of 15 shell companies identified so far, the agency said.
"The CBI conducted coordinated searches at 15 locations across Delhi, Rajasthan, Uttar Pradesh and Punjab in connection with a case related to large-scale organised online investment and part-time job fraud involving offshore withdrawals and overseas fintech platforms, predominantly the Dubai-based 'Pyypl'," an agency spokesperson said in a statement.
"It was alleged that thousands of unsuspecting Indian citizens were cheated of crores of rupees through deceptive online schemes operated by an organised transnational fraud syndicate," she said.
The probe revealed that the network used social media platforms, mobile applications and encrypted messaging services to lure victims with promises of high returns from online investments and part-time job opportunities, the official said.
"The victims were initially induced to deposit small amounts and were shown fictitious profits to gain their trust, after which they were persuaded to invest larger sums," she said.
The defrauded money was then routed through multiple mule bank accounts to conceal the trail and later siphoned off through offshore ATM withdrawals using debit cards enabled for international transactions.
The funds were also diverted through wallet top-ups on overseas fintech platforms, predominantly "Pyypl", using Visa and MasterCard payment networks. These transactions appeared as Point-of-Sale (POS) transactions in banking systems, the agency said.
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Himanta resigns as Assam CM, paving way for formation of new govt
Guwahati (PTI): Assam Chief Minister Himanta Biswa Sarma on Wednesday resigned along with his cabinet colleagues, paving the way for formation of a new government led by the BJP, officials said.
The BJP-led NDA bagged 102 seats in the 126-member assembly. The assembly elections were held in a single phase on April 9, and counting of votes took place on May 4.
"Following the formal notification of the results of #AssamElections2026 and to enable the formation of the new government, Dr @himantabiswa tendered his resignation as Chief Minister along with that of the council of Ministers to Hon'ble Governor Shri @Laxmanacharya54 today at Lok Bhawan," the Chief Minister's Office said in a post on X.
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The Governor has accepted the resignation, and requested Sarma to continue as the caretaker CM till the new government assumes office, it said.
Later, speaking to reporters outside the Lok Bhawan, Sarma said the oath-taking ceremony is likely to take place after May 11.
“As it was a historic win, we have invited Prime Minister Narendra Modi to grace the occasion," he said.
The new Assam chief minister will be selected at a meeting of the BJP legislature party in presence of central observers, Sarma said.
