ED Arrests Two Chartered Accountants in ₹641 Crore Cyber Fraud and Money Laundering Case

New Delhi: The Enforcement Directorate has arrested two chartered accountants in connection with a massive ₹641 crore cyber fraud and money laundering case, officials said. The arrests were carried out on February 28, 2026, under provisions of the Prevention of Money Laundering Act (PMLA), 2002.

According to the probe agency, the two accused were taken into custody after they surrendered before a special court, following several failed attempts to obtain anticipatory bail from various courts. Investigators allege that the chartered accountants played a crucial role in layering and laundering large amounts of money generated through cyber fraud operations.

Officials stated that the accused allegedly helped cybercriminal networks by creating shell companies, opening bank accounts, and routing illicit funds through complex financial channels. These activities were reportedly carried out to disguise the origin of the money obtained from victims through online scams and fraudulent schemes.

The ED investigation revealed that the cyber fraud network had cheated numerous victims across the country through fake investment platforms, phishing schemes, and online financial scams. The defrauded funds were then moved through multiple accounts and converted into seemingly legitimate transactions with the help of financial professionals.

During the investigation, the agency conducted several search operations at different locations, seizing financial documents, electronic devices, and records related to suspicious bank transactions. Officials believe the chartered accountants were key facilitators in the laundering process.

After their arrest, the accused were produced before the PMLA special court, which granted custody to the ED for further interrogation. The agency is now examining financial trails, bank records, and digital evidence to identify other individuals involved in the cybercrime network.

Authorities said the probe is ongoing and more arrests and asset seizures may follow as investigators continue to track the money trail linked to the ₹641 crore fraud.

🚨 Officials have also urged citizens to remain cautious while investing online and to report suspicious financial schemes to the authorities immediately.