India, May 28 -- A multi-state money laundering investigation by the Enforcement Directorate (ED) into a crime syndicate that allegedly extorted Rs.1.15 crore from a victim by placing him under 'digital arrest' has revealed the usage of bogus bank accounts and multiple layers of financial transactions to divert the proceeds of crime. The ED suspects that multiple layers of transactions were used to mask the end-recipients of the crime's proceeds and to show the funds as untainted, agency sources said.

The ED's probe is based on a case registered by the cyber crime police station in Ahmedabad city against unknown persons who allegedly defrauded the complainant of Rs.1.15 crore. The case was registered under provisions of the Indian Penal ...