INDIA. Mumbai: The Directorate of Enforcement (ED) has seized movable and immovable assets worth Rs 67.23 crore from M/s Met Technologies, Kolkata, and its associates, including Kunal Gupta.
The action comes under the Prevention of Money Laundering Act (PMLA) 2002, following charges of operating a fake call center that targeted residents in the USA, UK, and Australia.
Kunal Gupta was arrested on September 10 during ED search operations at his residential and commercial premises. The attached assets comprise 35 bank accounts, 14 cars, and 12 immovable properties valued at Rs. 61.84 crore, including a resort and a villa in Goa, as well as commercial offices, flats, apartments, and land parcels in Kolkata and Bangalore.
The ED’s investigation, initiated based on a Bidhannagar Police FIR, revealed serious offenses such as cheating, forgery, and criminal conspiracy by M/s Met Technologies Pvt. Ltd and its associates.
An illegal call center in Salt Lake, Kolkata, engaging in fraudulent activities both domestically and internationally, was uncovered and subsequently sealed by Kolkata Police.
Posing as representatives of legitimate businesses, the company’s agents defrauded individuals in the USA, UK, and Australia through fake tech support offers, deceptive website sales, and sham loan offers via counterfeit mobile apps. This led to illicit proceeds amounting to Rs 126 crore.
Kunal Gupta, identified as the mastermind, was also involved in illegal betting and online gambling activities. The laundered money was channeled through a complex network of companies owned and controlled by Gupta, his family members, and company employees.
The funds were then projected as untainted through the hospitality sector, including hotels, clubs, and cafes.
In a separate case, the ED attached three immovable properties worth Rs. 24.95 crore in Delhi belonging to Pawan Kant Munjal, CMD & Chairman of Hero MotoCorp Ltd. This action, under PMLA, brings the total attachment to Rs. 50 crore.
Earlier search operations on August 01 had resulted in the seizure of valuables worth Rs. 25 crore, along with digital and incriminating evidence.
The investigation was initiated based on a Prosecution Complaint filed by the Directorate of Revenue Intelligence (DRI) under section 135 of the Customs Act, 1962.
Pawan Kant Munjal and others were accused of illegally taking foreign exchange/currency out of India.
Approximately Rs. 54 crore in FOREX was unlawfully taken out, with Munjal obtaining foreign exchange in the names of others and using it for personal expenditure abroad.
The modus operandi circumvented the limits of USD 2.5 lakh per annum per person under the Liberalized Remittance Scheme.
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