Kolkata, Dec 6 (UNI) The Enforcement Directorate, Kolkata office, has issued an attachment order in respect of properties valued at Rs. 5.23 crore linked to two businessmen-- Kunal Gupta, owner of M/s Met Technologies Pvt Ltd and his associate, Pawan Jaiswal, who ran an international cyber fraud network, for allegedly duping foreign clients, the federal agency sources said on Friday.
" The attached properties include 37 horses belonging to KG Stud Farm LLP, valued at Rs. 398.5 lakh, and flats in Greenleaf Complex in Baguiati, Kolkata, valued at Rs. 1.08 crore," the ED said.
The attachment order was issued under the Prevention of Money Laundering Act, 2002 (PMLA).
The ED began a probe based on an FIR registered by Cyber Crime Police Station, Bidhannagar ( West Bengal Police) under various sections of IPC, 1860 against M/s Met Technologies Pvt Ltd and its Directors for alleged cheating, forgery, and criminal conspiracy.
The ED's investigations revealed an alleged nexus of fraudulent call centers controlled by Kunal Gupta, targeting victims in the USA, UK, and Australia. These centers defrauded individuals through false tech support, fake loans via counterfeit apps, and fraudulent business transactions.
" The Proceeds of Crime (POC) were layered and laundered through various companies, including KG Stud Farm LLP and GD Infotech, concealing their illicit origins, " ED said in a statement.
The ED's investigation further revealed that KG Stud Farm LLP was used as a vehicle to launder funds, with POC being utilized for the purchase, maintenance, and training of horses. Race winnings generated from these horses, themselves linked to criminal proceeds, were reinvested, perpetuating a cycle of laundering. The attached 37 horses
are stationed across race clubs and riding schools in India.
" Pawan Jaiswal, a key associate of Kunal Gupta, was found to have utilized POC through GD Infotech to acquire properties in Greenleaf Complex. The investigation uncovered unexplained cash deposits and financial transactions linked to the acquisition, consolidating three flats into a single property valued at Rs. 1.08 crore. These transactions were found to lack legitimate sources of income, directly
tying the property to the POC," the federal agency said.
Earlier, ED had issued provisional attachment orders for properties worth Rs. 67.23 crore on November 7, 2023 and Rs Rs. 85 lakh on July 10, 2024 belonging to Kunal Gupta, M/s Met Technologies Pvt Ltd, and their associates.
Searches conducted at the residential and commercial premises of Kunal Gupta and Pawan Jaiswal yielded incriminating documents, digital evidence, and cash.
" This provisional attachment order ensures the prevention of dissipation of POC and preserves assets for future confiscation under the provisions of PMLA, 2002," the ED said.
The probe is on.
UNI PC BD