NEW DELHI: The Enforcement Directorate (ED) announced on Tuesday that one Abdul Gafoor has been taken into custody until March 31 in connection with a Prevention of Money Laundering case involving a fake Crypto Morris Coin case in which 900 investors were duped out of Rs 1,200 crore by one K. Nishad and others.
The Enforcement Dir apprehended Gafoor, the director of Malappuram-based Stox Global Brokers Private Limited, on March 24 and brought him before a competent court in Kozhikode, where he was first remanded to judicial custody. It has announced on Tuesday that the accused has been remanded in custody until March 31.
The main suspect, Nishad, is said to have fled the country. The ED had previously attached property worth Rs 36.62 crore belonging to Nishad and others.Gafoor was apprehended after his company received Rs 39 crore in alleged proceeds of crime. His firm, according to the ED, is essentially a shell company.
Several FIRs were initially filed by Kerala police. According to these FIRs, the accused allegedly defrauded 900 innocent investors out of Rs 1200 crore.
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