CBI’s blitz on 15 sites across Delhi, Rajasthan, Uttar Pradesh, and Punjab has blown the lid off an audacious international fraud machine disguised as online trading and part-time employment schemes. Central to the heist: Dubai’s PYPL platform, used to expatriate pilfered rupees.
I4C’s cyber intel prompted the FIR, painting a picture of ruthless exploitation where gangs bombarded platforms with irresistible pitches. Victims bit on teaser deposits, marveled at virtual windfalls, poured in fortunes, only to be blocked out.
Proceeds darted via proxy banks, then deployed through global cards for ATM drains or PYPL infusions, camouflaged in transaction logs. Bijwasan-based CA Ashok Kumar Sharma emerges as the linchpin, allegedly steering crores through illicit circuits, with crypto as a getaway vehicle.
A deeper dive flagged a 900-crore pipeline last year, pooled in 15 shell entities and vectored via dual conduits to USDT on domestic exchanges, thence to whitelisted holdings.
Back in September 2025, freezes hit tainted accounts amid raids on exec abodes and HQs, bagging evidentiary gold. Sham directors, conned into roles with bogus filings, rounded out the facade.
Sharma’s custody intensifies questioning, as pursuits target an overseas player and asset trails snake globally. This operation reaffirms CBI’s command in combating borderless cybercrime, protecting everyday Indians from predatory digital traps.