Investment Fraud Kingpin Used Cryptonwallets to Fund Terror Outfits, Probe Reveals

Prakash Mulchandbhai Prajapati, one of the kingpins in the investment fraud busted by the Hyderabad police, which is also allegedly into terror financing, used a crypto wallet, owned by a China-based Crypto exchange Trons. He transferred transactions to the tune of 3,000 USDT to another wallet, from which transactions were made to a third crypto wallet that has links with the Hezbollah terror outfit.

Investigations have revealed that the three transactions from Prajapati’s crypto happened in March, May and June. Although, it is yet to be ascertained as to who operates this wallet, investigators have found three transactions of 400 USDT in July, 600 USDT in April and 9977 USDT in March. At the request of Prajapati, his associates in Dubai transferred 5,000 USDT to his crypto wallet, who, in turn, transferred 3000 USDT to another crypto wallet, as instructed by his Chinese handlers.

As all these wallets are owned by Chinese crypto exchanges, getting more details of the operators is almost an impossible task. Prajapati’s travel history revealed that he frequently travelled to China to meet his handlers and to Dubai to meet his associates.

Meanwhile, it was learnt that Prajapati had lured four youth from the city to open fake companies and bank accounts for him in Lucknow. He promised to pay up to Rs three lakh to each of them but later snapped it.

Source » deccanchronicle.com