The ED conducted searches in Bihar's Munger district in a fraud case. A private music company allegedly scammed investors with promises of a 'digital job' and doubling their investment by watching audio and video content on a website.
The Enforcement Directorate (ED) on Thursday carried out searches at five places in Bihar's Munger district in connection with an alleged fraud and cheating case in which investors were allegedly in the guise of promises of a "digital job" and doubling their investment by a private music company in Jamalpur, Munger and nearby regions, officials said.
ED's Patna zonal office launched the search operation early on Thursday under Section 17 of the Prevention of Money Laundering Act (PMLA), and it is still underway at the locations of suspects linked to the case.
Details of the Investment Scam
As per the investigators linked to the case, the potential investors allegedly were lured by investing Rs 2,56,500 and watching 4,800 audio and videos on the company's website per month; they would earn Rs 15,000 monthly, with promises of additional bonuses for more engagement, officials said.
ED, Patna is conducting a search operation u/s 17 of PMLA in the alleged case of fraud and cheating to investors in the guise of promises of a "digital job" and doubling their investment in Jamalpur, Munger and nearby regions by a private music company. "The scam enticed individuals with promises of a "digital job" and doubling their investment. The potential investors were lured that by investing Rs 2,56,500 and watching 4,800 audio and videos on the company's website per month, they would earn Rs 15,000 monthly, with promises of additional bonuses for more engagement," said the officials.
Modus Operandi to Defraud Investors
They said the company allegedly also offered additional money for recruiting new investors, even promised bikes and cars to those who brought in many people. However, officials said, after collecting investments, the software engineer of the company intentionally slowed down the website. "This made it technically impossible for users to complete the required tasks of watching 4800 audio/videos per month. This deliberate manipulation prevented investors from meeting the conditions needed to receive payouts."
FIR and Chargesheet Filed
Accordingly, the investigators said a First Information Report (FIR) was registered on November 18, 2024, under sections 316(2), 318(4), 3(5) of Bharatiya Nyay Sanhita (BNS), 2023, at Munger Police Station, and a chargesheet was also filed in the case. (ANI)
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