India, Dec. 23 -- The Enforcement Directorate (ED) on Thursday carried out searches at multiple locations in Maharashtra, Karnataka and Delhi as part of its money-laundering investigation into an alleged financial fraud involving crypto-currency-based investment platforms that duped investors in India and abroad. Crypto-currency is a type of virtual currency that is not legal tender in India.

The searches were held at 21 locations on Thursday, at the official and residential premises of the case's accused persons and entities, including M/S 4th Bloc Consultants, under the provisions of the Prevention of Money Laundering Act (PMLA). The ED probe revealed that the platforms were fake and had copied genuine investment platforms while promis...