On Friday, the Enforcement Directorate (ED) of the Srinagar zone conducted its first-ever search operation in the Leh-Ladakh region, targeting a major cryptocurrency scam. This raid, carried out under the Prevention of Money Laundering Act, spanned six locations across Leh, Jammu, and Sonipat. The operation aimed to dismantle a fraudulent crypto scheme led by AR Mir and his associates.
The scam centered around a cryptocurrency called ‘Emoillent Coin,’ which attracted thousands of investors. Unfortunately, these investors have not seen any returns or the promised cryptocurrency, leading to numerous FIRs in Leh and a surge of complaints in Jammu and Kashmir.
The investigation revealed that 2,508 individuals had invested a staggering Rs. 7,34,36,267 (approximately $876,000) into the fraudulent scheme. The ED’s operation represents a critical move towards addressing this extensive financial fraud and holding the perpetrators accountable.
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