ED books 10 in Dani Data App scam, crores swindled from investors
In a scam that lured investors and swindled crores of rupees through the Dani Data app, the Ahmedabad Enforcement Directorate (ED) has filed a complaint under the Prevention of Money Laundering Act (PMLA) against 10 individuals, including Ramesh Bharatbhai Maheshwari, a partner in 11 Moon Technologies. The ED launched its investigation after an FIR was filed at the Banaskantha Cyber Crime police station.The ED’s probe revealed that the app, launched by a Chinese national, collected money from people. It was available for download on the Google Play Store and promoted via WhatsApp referral groups. Investors were tempted with false promises of a fixed return of 0.75% per game. For example, they were told that an investment of just ₹1 lakh would grow to ₹1.95 lakh in only 30 days.Funds were collected through merchant IDs linked to payment aggregators such as Agreepay, BharatPe, Cashfree, Paytm, and others. These funds were transferred to bank accounts between December 2021 and June 2022. The ED had earlier frozen around ₹20 crore in this case.Investigations further revealed that investors’ money was routed through a complex network, with large amounts transferred to dummy accounts. The funds were then withdrawn in cash, used to purchase foreign currency, converted into cryptocurrency, and sent abroad, among other illicit uses.
In a scam that lured investors and swindled crores of rupees through the Dani Data app, the Ahmedabad Enforcement Directorate (ED) has filed a complaint under the Prevention of Money Laundering Act (PMLA) against 10 individuals, including Ramesh Bharatbhai Maheshwari, a partner in 11 Moon Technologies. The ED launched its investigation after an FIR was filed at the Banaskantha Cyber Crime police station.
The ED’s probe revealed that the app, launched by a Chinese national, collected money from people. It was available for download on the Google Play Store and promoted via WhatsApp referral groups. Investors were tempted with false promises of a fixed return of 0.75% per game. For example, they were told that an investment of just ₹1 lakh would grow to ₹1.95 lakh in only 30 days.
Funds were collected through merchant IDs linked to payment aggregators such as Agreepay, BharatPe, Cashfree, Paytm, and others. These funds were transferred to bank accounts between December 2021 and June 2022. The ED had earlier frozen around ₹20 crore in this case.
Investigations further revealed that investors’ money was routed through a complex network, with large amounts transferred to dummy accounts. The funds were then withdrawn in cash, used to purchase foreign currency, converted into cryptocurrency, and sent abroad, among other illicit uses.
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