ED Attaches Rs. 10.86 Crore in Land Fraud and Cryptocurrency Scheme
Court / Authority
Indirect Taxes and Customs (CBIC)
Update / Judgement Date
15 Jun 2026
Source
WCP News Bulletin
Author
Sakshi Bhardwaj — WCP Legal Desk
Reading Time
2 min read
View Count
Background:
The Enforcement Directorate (ED), Chandigarh Zonal Office, has issued a Provisional Attachment Order (PAO) under the Prevention of Money Laundering Act, 2002 (PMLA) in a
complex land fraud and investment scheme involving Sandeep Yadav, Manoj Yadav, Mohan Sharma, and others. The agency has provisionally attached movable and immovable assets valued at Rs. 10.86 crore, comprising flats and land worth Rs. 6.06 crore and cryptocurrencies held in digital wallets in the form of Ramifi Tokens valued at Rs. 4.79 crore.
Fraudulent Scheme and Proceeds of Crime:
ED’s action follows an investigation initiated on the basis of an FIR registered by Haryana Police. The probe revealed that the accused allegedly cheated approximately 20 membersof the public by fraudulently sellingreal estate plotsand attracting investors with promises of unusually high returns through cryptocurrency investments. The investigation identifies proceeds of crime (POC) amounting to roughly Rs. 26.54 crore, which were purportedly invested in movable and immovable assets as well as digital tokens.
According to the ED, the cheated funds were siphoned through third-party bank accounts and largely withdrawn in cash. Detailed financial inquiry showed habitual offending by the group, with multiple FIRs registered against them for similar cheating activities. Earlier search operations at 10 locations in this case led to the recovery of cryptocurrencies worth Rs. 17 crore and freezing of Rs. 46 lakhs in bank accounts linked to the accused, under provisions of the PMLA.
Full Judgement / Attachment
Full Judgement
Frequently asked questions about Indirect Taxes and Customs (CBIC)
- What is the CBIC?
- The Central Board of Indirect Taxes and Customs (CBIC), in the Department of Revenue, Ministry of Finance, administers customs, central excise and the Central GST and IGST. It issues notifications, circulars and instructions that field formations follow.
- How do importers and exporters file customs documents?
- Bills of entry and shipping bills are filed electronically through ICEGATE, the CBIC's customs e-commerce gateway. Most bills of entry are assessed under the Faceless Assessment system.
- How do I appeal against a customs order?
- A first appeal lies to the Commissioner (Customs Appeals) within 60 days, with a pre-deposit of 7.5 per cent of the duty in dispute. A further appeal lies to the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) within three months, with a pre-deposit of 10 per cent.
- Where are CBIC notifications published?
- Notifications and circulars on customs, GST and central excise are published on the CBIC website (cbic.gov.in) and in the Gazette of India, under separate series for tariff and non-tariff notifications.
- How can White Collar Professional help with a customs or CBIC matter?
- Post your requirement on White Collar Professional to receive proposals from verified Chartered Accountants, customs brokers and Advocates, compare them, and pay securely through the platform. This page also tracks the latest customs or CBIC CBIC and customs updates as they are reported.
