Ratlam SP Rahul Kumar Lodha has appealed to the people that if anyone has invested through this network, they can take the help of the police.
For the first time in the country, Ratlam Police has managed to reach a big link in fake trading network and international fraud in the name of increasing money. Ratlam Police has also frozen several lakhs of rupees along with exposing the fraud and international network associated with cryptocurrencies being done by MTFE (Multilateral Trading Facility Europe). Three accused have also been detained in the case. One of them is the owner of a fake company in Bengaluru.
Ratlam police has taken action up to this level for the first time in the country. It is being told that in this case, ED (Enforcement Directorate) and Central Investigating Agencies can also join the investigation. For this, correspondence will be done with them. Ratlam SP Rahul Kumar Lodha has appealed to the people that if anyone has invested through this network, they can take the help of the police.
More than 10 lakh accounts in India
Sp Rahul Kumar Lodha revealed that the fraud of MTFE is going on at the international level. The scale at which it is going on can be gauged from the fact that MTFE even showed its advertisement on the board during the Sri Lanka Cricket League 2023 to convince the people. SP Lodha said that people associated with MTFE gradually started doing this fraud by luring people. There are more than 10 lakh 68 thousand accounts in India itself.
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How to understand how fraud is happening
The common man invests in MTFE in the greed of growing money. This money goes directly to the TR-20 network of the dark web. This network operates internationally and no government of any country has any control over it. No one can withdraw money from here, not even MTFE itself. However, this network is transparent and money is visible on the screen. Anyone investing can see the money growing in dollars here at any time, but cannot withdraw.
The invested person is fooled by showing his money growing in the network and this is where the fraud starts. MTFE uses the money lying in the network and within a few seconds this money is put in the wallet of the fake company. This whole process is black. The fake company invests this money in cryptocurrency, that is, completely in white. This is how black money is whitened in MTFE.
This network operates internationally and no government of any country has any control over it.
Black money was whitened
The investments made in cryptocurrency were transferred to MTFE's bank accounts in India by the fake company Clean Chem Private Limited in Indian rupees. The work of withdrawing money from black to white was going on like this.
Co-ordinating with many countries
Ratlam SP Rahul Kumar Lodha said that these networks are working at the international level. No rules or control policies of any country are applicable to them yet. There is no KYC in the dark web, so no one knows about the person investing money. The Sri Lankan Embassy has been contacted for the link and action traced by the Ratlam police. Along with this, Malaysia and Bangladesh are also being contacted. It was told that a similar fraud is being done there too.
Fraud accused arrested
Sp Lodha said that Govind Singh and Sandeep have been arrested along with Huzaifa Jamali of Ratlam district. Govind and Sandeep were not only campaigning, but they were aware that a video of the business company was being faked. Despite this, they were getting people to invest for the company by taking money in their QR code and cash. Apart from these three, Yoga Nanda, who helped in withdrawing money from black to white by forming a fake company named Kalin in Bangalore, has also been arrested. Yoga Nanda is the owner of Kalin.
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