ED undertakes first-ever searches in Ladakh in crypto fraud case
Srinagar (PTI): In its first ever raids in the Union Territory of Ladakh, the Enforcement Directorate on Friday conducted searches as part of its money laundering probe linked to a cryptocurrency fraud case in which investors lost more than Rs 7 crore worth of deposits, officials said.
The agency's zonal office here raided at least six premises in Leh town of Ladakh, Jammu in J-K and Sonipat in Haryana in the case against A R Mir and others.
It is alleged that 2,508 investors deposited more than Rs 7.34 crore in a fake cryptocurrency business in the name of "Emollient Coin Limited". They, however, did not get any returns or currency back, and these funds were laundered by the business' promoters to purchase land assets in Jammu.
The money laundering case stems from a March 2020 FIR registered in Leh and some other complaints filed in the Union Territory (UT) of Jammu and Kashmir (J-K) against Mir and Ajay Kumar Choudhary.
Police in Leh in their FIR stated that an inquiry was conducted by a committee formed by the local district magistrate against Mir and his agents who were running the "fake" cryptocurrency business (Emollient Coin Limited) from a office located at the Anjuman Moin-Ul-complex, opposite SNM Hospital, in Leh.
The committee sealed this office during inquiry on charges of "cheating many innocent individuals by assuring them to double their investment", according to the FIR.
The accused lured people of the UT of Ladakh and some other places to purchase "Emollient Coin" using cash or transferring money into bank accounts, according to Enforcement Directorate (ED) officials.
The depositors were also duped in the name of "Bitcoins" with the assurance of returns up to 40 per cent with a lock-in period of 10 months, the probe agency said.
Investors were dished out a commission of up to seven per cent of the investment made by the people on their reference in the business, thereby forming a multi-level marketing chain, the ED found.
A total of 2,508 people invested Rs 7,34,36,267 in the investment plan offered by Mir and the company (Emollient) floated by him that was incorporated in September 2017 and had its registered office in London. A man, Henry Maxwell, living in the UK capital, was its director.
The company had two promoters in India -- Naresh Gullia and Channi Singh. The company was "deliberately" dissolved in March 2019, and Mir along with Choudhary launched a real estate business and acquired lands in Jammu from the funds generated by the fake cryptocurrency trade, according to the ED.
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Ex-PM Devegowda warns opposition of electoral losses if they continue to allege 'vote chori'
New Delhi (PTI): Former Prime Minister H D Devegowda on Monday said the Opposition parties would "suffer" if they continue to raise allegations of "vote chori" and create suspicion in the minds of voters by blaming Prime Minister Narendra Modi-led government.
Participating in a discussion on election reforms in the Rajya Sabha, he criticised the Opposition for making a mockery about the Prime Minister "in the streets and on the public platform".
"This (India) is a very big country. A large country. Congress may be in three states. Remember my friends please, by using the words 'vote chori' you are going to suffer in the coming days. You are not going to win the battle," Devegowda said, referring to the Opposition members.
He asked what the Opposition is going to earn by "blaming Narendra Modi's leadership and creating a suspicion in the mind of the voters" through the claims of "vote chori".
"What has happened to their minds? Let them rectify," Devegowda said.
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The former prime minister said that during his over seven decades of public life, he has never raised such issues of vote theft despite facing defeat in elections.
He also cited a letter written by the then Prime Minister Jawaharlal Nehru regarding inclusion of "18,000 votes" (voters) in Kerala.
"Why I am telling this (because) during the Nehru period also, there were certain lapses in the electoral system," said Devegowda, who was the prime minister between June 1, 1996 and April 21, 1997.
He said that the Congress party faced defeat in the recent Bihar elections despite raising the issues of mistakes in the electoral rolls.
"What happened after that even after so much review (of voters list). Think (for) yourself! You got six MLAs," the senior Janata Dal (Secular) leader said.
Devegowda questioned the Opposition as to why they want to make allegations against the prime minister on the issue of the voters list?
"Election Commission is there. Supreme Court is there. The Election Commission has given direction to all the state units to rectify all these things," he said.
Devegowda said people of the country have full confidence in Narendra Modi's government and it will come back to power after the next Lok Sabha elections as well.
K R Suresh Reddy, Bharat Rashtra Samithi (BRS) party's Rajya Sabha member from Telangana, said that electoral reforms are the backbone for a healthy democracy.
He said a large and diverse nation like Indi needs clean electoral rolls.
Asserting that strict re-verification should not become a mechanism for exclusion, Reddy said no eligible voter should lose their right to vote simply because accessing paperwork is difficult.
He said while the concern definitely is on the voters' exclusion, "we should also be equally concerned about the percentage of voting."
"What is happening in voting today? Once the election ends, the drama begins. The biggest challenge that the Indian democracy has been facing in spite of two major Constitutional amendments has been the anti-defection. Anti-defection is the name of the game today, especially in smaller states, especially where the legislatures are small in number," Reddy said.
The senior BRS leader suggested creation of a parliamentary committee "which would constantly look into the defection" and "ways and means to cutting that".
AIADMK's M Thambidurai raised the issues related to election campaigning.
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"Election campaigns are one of the important election processes. In that, political parties must be given the proper chance to campaign," he said and cited problems faced by his party in Tamil Nadu in this regard.
Thambidurai said political parties were facing hardships in Tamil Nadu to conduct public meetings and to express their views to the public.
YSRCP's Yerram Venkata Subba Reddy stressed on bringing electoral reforms at both the state and national levels.
He also suggested replacing Electronic Voting Machines with paper ballots in all future elections.
"EVM may be efficient but can't be trusted. Paper ballot may not be efficient but can be trusted. You need trust in democracy," Reddy added.
