The Enforcement Directorate (ED) on Tuesday seized movable and immovable assets worth Rs 10.86 crore from accused in a large-scale land sale and cryptocurrency fraud. The properties include a flat, land, and cryptocurrencies worth Rs 4.79 crore in Ramifi tokens, allegedly acquired through money obtained by cheating dozens of investors, officials said.

The investigation centers on Sandeep Yadav, Manoj Yadav, Mohan Sharma, and their associates, who lured the public into buying plots at allegedly discounted rates, promising exorbitant returns. The accused are also alleged to have manipulated investments in illegal cryptocurrency schemes to divert investor funds for personal gain.

ED had conducted searches in August 2025 at four locations across Gurugram, seizing incriminating documents, digital devices, and freezing 17 bank accounts holding roughly Rs 42 lakh linked to the accused. These actions were part of the probe under the Prevention of Money Laundering Act (PMLA), 2002.

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The agency has also identified immovable assets worth over Rs 15 crore allegedly purchased with the proceeds of the fraudulent schemes. According to the ED, the accused diverted money into these assets to legitimize their illicit gains, reflecting a complex network of financial fraud and property acquisition.

The probe was launched following an FIR registered by Haryana Police, and the ED is now investigating the full extent of the fraud, including potential involvement of other associates. Authorities emphasized that the attached assets may be confiscated permanently after legal proceedings.

Officials said the operation highlights a growing trend of investment fraud combining fake land deals and cryptocurrencies, warning the public to exercise caution while investing in schemes promising high returns. The ED continues to monitor digital and property assets connected to the case.

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