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Pune Fintech Firm at Center of ₹800-Crore Money Laundering Scheme

Guavy AI Editorial Team
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The Enforcement Directorate (ED) has uncovered an alleged ₹800-crore money trail routed through shell entities and cryptocurrency platforms.

The investigation, which began with a probe into online betting and investment fraud syndicate, found that Pune-based fintech firm Edsom Fintech Pvt. Ltd. played a central role in laundering hundreds of crores in proceeds of crime.

Funds collected from victims were first routed through multiple mule accounts before being channelled into bank accounts maintained by Edsom Fintech Pvt. Ltd., which allegedly received hundreds of crores.

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