ED action in octafax trading scam, Mastermind’s property attached to crores

Mumbai: In the Octafax Forex Trading Scam, the ED has attached assets worth 131 crores including Luxury Yatch and Mini Jet of Pavel Prozorov, the mastermind of the fraud, Pavel Prozorov, the mastermind of the fraud. These properties include a luxury yacht, mini jet boat, luxury car and two residential houses in Spain.

The ED investigation has revealed that Octapax opened bank accounts in the name of fake e-commerce companies, whose directors were also fake and the documents were manipulated. Through these accounts, money was collected from the public and then sent to foreign accounts.

Octapax frauded Rs 800 crore in 9 months

Investigations have also revealed that in just 9 months, Octafax framed around Rs 800 crore in India. The money was transferred to companies of Spain, Estonia, Russia, Hong Kong, Singapore, UAE and UK in the name of ‘Import of fake services’, which are under the control of Pavel Prozorov.

19 properties present in Spain also attached

The properties that have been attached include a luxury petition called “CHERRY”. It is the commercial petition of an Italian model that cruges in Western Meditarinian marine areas. So far, ED has confiscated and attached assets worth more than Rs 296 crore, including 19 properties in Spain. In this case, two charge sheet has been filed against Octafx and 54 other accused, which have been accepted by the Special PMLA court.

Also hide fraud marks

Let us know that Octafx is an illegal forex trading platform which was promoted through social media, IPL and some celebrities. Its websites and login URLs were replaced repeatedly to hide fraud marks.