ED undertakes first-ever searches in Ladakh in crypto fraud case

Srinagar: 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 name of “Emollient Coin Limited”.