ED arrests 2 CAs in ₹641 crore cyber fraud, money laundering case

• Enforcement Directorate arrested CAs Ashok Kumar Sharma and Bhaskar Yadav on Feb 28 under PMLA for a ₹641 crore cyber fraud and money laundering case.
• Victims nationwide were duped via fake investments, job offers, QR code frauds, and phishing schemes, with proceeds estimated at ₹641 crore.
• Fraud money was routed through mule accounts, dummy/shell companies, then transferred via Indian debit cards to UAE-based PYIPL prepaid cards for cash withdrawals in Dubai.
• A portion of funds was converted into Virtual Digital Assets (VDAs) via Binance and moved through complex crypto wallets to obscure the money trail.
• The accused were part of an organized syndicate controlling over 20 companies in Bijwasan, Delhi, used for layering illicit funds abroad; their anticipatory bail pleas were rejected by courts.