ED arrests two men in Chennai for online fraud, crypto currency laundering

Representational image | Photo Credit: Getty Images The Directorate of Enforcement (ED), Chennai Zonal Office-II has arrested two men — Roshan Fiaz and Ammar — under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, in connection with money laundering investigation relating to online frauds.The two persons who were arrested on October 30, 2026 had laundered the amount defrauded through networks of mule bank accounts and cryptocurrency (USDT). In a press release, the ED said it initiated the investigation based on two FIRs registered by the State Cyber Crime Command Centre, Tamil Nadu Police, and another registered by Cyber Crime Police Station, Cyberabad, of Telangana under various sections of Bhartiya Nyaya Sanhita (BNS ) 2023 and the Information Technology Act. During the investigation, the ED found that the modus operandi of the fraudsters was calling or contacting the victims through social media platforms on the pretext of investment schemes, jobs, share market investments and other online fraud methods and transferring the money defrauded in mule accounts after converting it, for further transfer to other accounts. The ED also identified more than 600 cybercrime complaints linked to the same network, swindling more than ₹400 crore. The ED found that Roshan Fiaz and Ammar, in connivance with their associates, orchestrated and devised the modus operandi of diversion and layering of proceeds of crime through a web of mule accounts network and siphoning off into crypto currency. Earlier, ED had conducted searches under Section 17 of the PMLA, 2002, at various locations linked to Roshan Fiaz, Ammar and their associated entities, which led to seizure of ₹14.5 lakh cash and cryptocurrency worth ₹3.26 crore and freezing of ₹88.28 lakh lying in multiple bank accounts. Published - November 06, 2026 04:43 pm IST