Investment-2 CAs were cheating in the name of online job, 10 arrested in cyber fraud of ₹641 crore

Updated: 05-03-2026, 01.31 PM

The Enforcement Directorate has arrested 10 people including two chartered accountants in a cyber fraud case of Rs 641 crore. The accused used to cheat people across the country in the name of investments and online jobs. ED has arrested two chartered accountants Ashok Kumar Sharma and Bhaskar Yadav in the case of big cyber fraud network. Both were detained under PMLA on 28 February 2026.

Investigation revealed that people were defrauded to the tune of Rs 641 crore through cyber fraud. This money was first deposited in different Mule bank accounts and then routed through various shell companies, hiding its real identity.

Formed more than 20 companies

According to ED, the accused had set up more than 20 companies from Bijwasan area of Delhi, which were used to transfer illegal money here and there. The investigation also revealed that the defrauded money was later sent to the prepaid card wallet of UAE fintech company PYYPA. From there the money was withdrawn to Dubai or converted into cryptocurrency and transferred to different digital wallets, so that the trail of the money could be hidden.

Assets worth Rs 8.67 crore attached

In this case, ED has already conducted raids at many places. During that time, both the accused had absconded and tried to get anticipatory bail in the courts to avoid arrest, but they did not get relief. Later, after surrendering in the court, ED arrested both of them. So far, 10 people have been arrested in this case and assets worth about Rs 8.67 crore have been attached.

Court took cognizance of two complaints

During the investigation, it was revealed that a structured syndicate, which included educated professionals like chartered accountants Ashok Kumar Sharma, Bhaskar Yadav, Ajay and Vipin Yadav, was running a money laundering scheme. Two prosecution complaints have also been filed before the Special (PMLA) Court, and the Hon’ble Court has taken cognizance of them.