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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TVK chief Vijay declares two pending criminal cases in fresh election affidavit
Chennai (PTI): Amid scrutiny, TVK chief Vijay, who had earlier filed an election affidavit with no pending criminal cases, has declared two pending FIRs in a fresh affidavit filed before the returning officer for the Tamil Nadu Assembly elections to be held on April 23.
The fresh affidavit, notarised on April 3, was filed on April 4 by a representative, according to sources. It lists two cases in Chennai and Madurai that were not included in the previous document notarised on March 30.
In the latest filing, the actor disclosed FIR number 74 of 2026 registered at the K5 Peravallur Police Station in Chennai for alleged public disturbance during election campaigning on March 30. Vijay stated in the affidavit that he became aware of this case through social media on April 2.
A second FIR, number 108 of 2025 from the Koodakovil Police Station in Madurai district, involves a complaint regarding an incident during a party conference on August 21, 2025. The complainant alleged being pushed and injured by bouncers while attempting to approach the leader during a ramp walk, though Vijay noted he has not yet received a formal summons for the matter.
While the criminal record section saw changes, the financial declarations remained largely consistent across both filings.
Vijay's movable assets are valued at approximately Rs 410.59 crore in the fresh affidavit, compared to the Rs 404.58 crore declared previously. This includes silver articles worth Rs 15 lakh and 883 grams of gold jewellery valued at over Rs 1.20 crore.
The total current market value of his immovable properties, including commercial and residential buildings in locations such as Neelankarai and Saligramam, is estimated at Rs 220.15 crore.
The TVK leader declared a total income of Rs 184.53 crore for the 2024-2025 financial year. He also listed pending income tax demands totaling approximately Rs 3.44 crore across multiple assessment years which are currently under appeal.
Vijay is contesting the elections from the Perambur and Tiruchirapalli East Assembly constituencies. He filed his first nomination for the Perambur Assembly constituency on March 30. He subsequently filed his nomination for the Trichy East constituency on April 2.
The fresh affidavit submitted in Perambur on April 4 was a supplementary filing intended to address discrepancies between the initial Perambur declaration and the one later filed in Tiruchirapalli East. The revised filing ensures the TVK chief remains compliant with Election Commission norms regarding the disclosure of all pending criminal proceedings.
