New Delhi, July 2(HS): The Enforcement Directorate (ED) conducted raids at five locations in Delhi linked to a ₹900 crore cyber fraud investigation on Wednesday. Official sources revealed that a Chinese national and others are allegedly involved in the fraud. The ED has registered a criminal case under the Prevention of Money Laundering Act, 2002 (PMLA) to probe the matter. Investigating officers are focusing on a company named Xindai Technologies Pvt Ltd during the searches.

Allegations suggest public defraudment via investments, with funds looted through money changers. A Chinese national and others are under investigation; crime proceeds are estimated at ₹903 crore.

Hindusthan Samachar / Jun Sarkar