The Enforcement Directorate department conducted its first ever raid in in the Leh Ladakh region under the provisions of the Public Money Laundering Act(PMLA), for investigating fake cryptocurrency businesses ED sources said today. The agency raided at least six premises in Leh in Ladakh, Jammu in J-K and Sonipat in Haryana in the case against A R Mir and others.
It is alleged that thousands of investors have invested their money in fake currency, namely 'emoillent coin,' and did not receive the currency, or returns. Several FIRs have been filed in the Leh region, along with complaints from Jammu and Kashmir, that led to the PMLA case.
According to the complaint received from the Additional District Magistrate, Leh, an FIR No. 16/2020 dated 05-03-2020 was lodged under section 420 of IPC, by the Jammu and Kashmir Police at Leh Police Station, against A. R. Mir and Ajay Kumar Choudhary.
A R Mir and his agents, have allegedly been running a fake cryptocurrency business under the name of “Emollient Coin Limited '' from their office located some distance away from SNM Hospital in Leh. The probing agency has sealed the office, and accused them of cheating many innocent individuals by giving them false assertions of doubling their investments.
“The Emollient Coin Limited” was incorporated on September 28, 2017 with its registered office in London. Mr. Naresh Gullia, and Mr. Channi Singh were its promoters in India.
Sources from the Enforcement Directorate, further revealed that the person under investigation, Mr. A. R. Mir, along with Mr. Ajay Kumar Choudhary, started a real estate business. The duo acquired various lands in Jammu, from the fund generated through Emollient Coins Limited.
