Jharkhand: The Enforcement Directorate (ED) has successfully obtained a conviction in a cyber fraud case in Jharkhand, marking a crucial development in the fight against financial crimes. The case involved Santosh Yadav, against whom ED filed a Prosecution Complaint on 29.08.2022, before the Hon’ble Special (PMLA) Court in Ranchi.
The trial process was expedited in a Fastrack mode, resulting in the swift completion of the entire trial within 17 months. The Hon’ble Special (PMLA) Court in Ranchi sentenced Santosh Yadav to three years of rigorous imprisonment and imposed a fine of Rs 2 lakhs on him, in accordance with the provisions of the PMLA (Prevention of Money Laundering Act), 2002.
The ED’s investigation was initiated based on an FIR and charge sheet filed by the Jharkhand Police against Santosh Yadav. The charges included offenses under various sections of the Indian Penal Code, of 1860, and the Information Technology Act, of 2000.
As part of the ED’s investigative process, a search was conducted under section 17(1) of the PMLA, 2002, at Santosh Yadav’s premises on 11.09.2018. The search yielded four mobile phones, seventeen SIM cards, and several incriminating pieces of evidence. Subsequently, the ED filed the Prosecution Complaint under the provisions of the PMLA, 2002, against Santosh Yadav.
The Prosecution Complaint alleged that Santosh Yadav deceived innocent individuals, posing as bank officials, engaging in illegally withdrawing or transferring money from their bank accounts. The proceeds of these crimes were then layered through various bank accounts and mobile wallets, ultimately withdrawn in cash.
In its verdict, the learned court convicted Santosh Yadav for money laundering offenses as defined under Section 3 and punishable under Section 4 of the PMLA, 2002. Additionally, the court ordered the confiscation of proceeds of crime amounting to Rs. 15,24,500 under section 8(5) of the PMLA, 2002.
This successful prosecution underscores the ED’s commitment to combatting financial crimes, particularly those perpetrated through cyber fraud. The conviction and penalties imposed serve as a deterrent and highlight the importance of collaborative efforts in securing justice against such criminal activities.
