ED conducts search operations in online forex trading case
The ED in April 2024, conducted searches across Mumbai, Chennai, Kolkata, and Delhi as part of an ongoing investigation under the provisions of the PMLA involving the OctaFx Trading App and website ("OctaFx"), allegedly accused of defrauding investors to the tune of INR 500,00,000 (Indian Rupees five hundred crore). As per publicly available sources, the ED froze INR 2,70,00,000 (Indian Rupees two crore seventy lakh) in funds and seized documents and digital devices related to the international forex scam involving brokers and traders. Total confiscations and seizures of assets amounting to INR 35,00,00,000 (Indian Rupees thirty five crore), including cryptocurrencies, bank funds, and gold coins, have been reported so far. The probe was initiated pursuant to the First Information Report ("FIR") filed at Shivaji Nagar Police Station, Pune, alleging that OctaFx manipulated trade activities on its platform, causing losses to investors. The illegal forex operations are alleged to have been conducted without approval of the Reserve Bank of India and the funds were managed and diverted to shell companies associated with OctaFx entities in Spain, Russia, Georgia, and Dubai.
CBI arrests the assistant director of Food Safety and Standards Authority of India in bribery case
The CBI in May 2024 had reportedly arrested an Assistant Director ("AD") of Food Safety and Standards Authority of India ("FSSAI") and 3(three) private sector employees for demanding and accepting bribes amounting to INR 1,20,000 (Indian Rupees one lakh twenty thousand) for the purpose of clearing pending bills of a private company. A case was registered by CBI under the Prevention of Corruption Act, 1988 ("PC Act") against the AD, FSSAI, who was involved in illegal and corrupt practices of demanding and accepting bribes for dishonest discharge of public duty in his capacity as a public servant. As per publicly available sources, searches were conducted at the office and residential premises of the accused which led to the recovery of INR 1,80,00,000 (Indian Rupees one crore eighty lakh) (approx.) cash, about 45 (forty-five) grams of gold and other incriminating documents. The arrested individuals have been remanded to police custody as the investigation continues.
CBI files final chargesheet in 'Land-For-Job-Scam'
In June 2024, CBI had filed the final charge-sheet in connection with 'Land-For-Job Scam' allegedly involving former Union Minister of Railways, Lalu Prasad. A total of 78 (seventy-eight) accused individuals (comprising of the former Union Railway Minister Lalu Prasad Yadav, his family members, high-ranking public officials and other private individuals) have been charged under the provisions of the Indian Penal Code, 1860 ("IPC") and the PC Act.
Jal Jeevan Mission scam
In another significant development related to the alleged Jal Jeevan Mission ("JJM") scam, the ED in June 2024 has arrested Public Health and Engineering Department ("PHED") contractor – during a raid in Jaipur. The contractor's name was also included in the case registered by Anti-Corruption Bureau, Jaipur. However, he could not be arrested previously as he was absconding for about 9 (nine) months. As per the media reports, this brings the total number of arrests in the case to 3 (three). Previously, the ED had made some arrests of people allegedly involved in securing tenders pertaining to JJM works based on purported fake and fabricated work completion by bribing senior PHED officials.
Former Indian Administrative Service officer arrested in Chhattisgarh liquor scam probe
The ED has uncovered an alleged liquor scam in Chhattisgarh, implicating a former Indian Administrative Service ("IAS") officer as the 'kingpin' of the liquor syndicate operating in Chhattisgarh. The investigation revealed that between 2019 and 2022, bribes were paid through the distillers, off-the-books sales of kacha liquor, cartel formation, and commissions from foreign liquor license holders. These corrupt practices led to proceeds estimated at over INR 2,100 crore (Indian Rupees two thousand one hundred crore). As per media sources, ED has asserted evidence of INR 14,41,00,000 (Indian Rupees fourteen crore forty-one lakh) receipts by the former IAS officer. Subsequent to these revelations, the former IAS officer was arrested.
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