The BRICS TimesThe ED has attached properties in Delhi-NCR and Dubai worth Rs 11.26 crore. Learn how Tushar Kharbanda used crypto to shift stolen money abroad.
ED Takes Action Against Cyber Fraud
The Enforcement Directorate (ED) has taken major action in a significant cyber fraud case. They have provisionally attached seven properties linked to Tushar Kharbanda. The total value of these assets stands at approximately Rs 11.26 crore. The ED’s Delhi Zonal Office team executed this attachment order. These properties are located in Delhi-NCR and Dubai. They are currently registered in the name of Tushar Kharbanda and his family members.
The ED investigation began based on FIRs filed by the CBI and Delhi Police. The probe revealed that Kharbanda ran illegal call centers in Noida. His team targeted and cheated foreign nationals through these centers. The fraudsters posed as police or investigation agency officers to scare their victims. They threatened people with arrest or freezing of bank accounts. Using this fear, they extorted millions from innocent victims. The investigation also found that they quickly converted stolen funds into cryptocurrency.
Assets Purchased Using Cryptocurrency
A crypto wallet controlled by Tushar Kharbanda contained over 351 Bitcoins. The current market value of these coins is roughly Rs 280 crore. They converted these Bitcoins into USDT. Later, they transferred the funds to various wallets and cashed them out. According to the ED, Kharbanda moved the fraud money from the UAE to India. He used hawala and non-banking channels to bring the cash back. He then used these funds to purchase properties.
He also bought several properties in the UAE using cash transactions. Two of these properties are still in his name. The ED has now attached these assets under the PMLA. The agency conducted raids at multiple locations on August 06, 2025. During these searches, the ED discovered properties in Noida and the UAE. They also found cryptocurrency stored on exchanges. The ED had earlier attached crypto worth Rs 28.90 lakh. The investigation into this matter is still ongoing.
