New Delhi, August 21, 2025 — In a coordinated operation on August 19, the Enforcement Directorate’s Chandigarh Zonal Office executed search and seizure actions across four premises in Gurugram. This operation targets a suspected range of offenses involving both land sale fraud and illegal cryptocurrency investments, under the ambit of the Prevention of Money Laundering Act (PMLA), 2002.
The investigation stems from an FIR filed by the Haryana Police, which alleged a deceptive practice: the accused—Sandeep Yadav, Manoj Yadav, and associates—misled the public with promises of plots sold at unusually low rates, combined with miraculous returns via crypto investments. The scheme reportedly enticed numerous victims into investments on the promise of quick and substantial profits.
During the searches, authorities seized a broad array of incriminating documents and digital devices. As a result of this action, 17 bank accounts linked to the suspects were promptly frozen, collectively holding approximately ₹42 lakh. Additionally, the ED identified immovable assets valued at around ₹15 crore, further evidencing the financial scale of the alleged operation.
Previously in this case, investigations had already uncovered cryptocurrencies worth ₹17 crore held by the accused, marking a significant trail of illicit financial activity.
This development aligns with a broader pattern of ED enforcement in high-profile frauds, including investigations into Parimatch, a Cyprus-based betting platform, where similar tactics of crypto laundering, mule accounts, and sweeping seizures were employed.
