New Delhi: Directorate of Enforcement (ED) has taken custody of Ashish Malik, who was arrested by the Economic Offence Wing (EOW), New Delhi on 30 May 2022 for duping more than 1,000 people on the pretext of making investment in a Russian oil company named Roseneft Oil Company. The accused Ashish Malik along with his accomplices Sunil Singh and Sandeep Kaushik promised people of 20% per month return on the pretext of making investment in Roseneft Hedge Fund and also launched two crypto coins named ‘RHFCOIN’ and ‘RHFGOLD’.
In this manner they collected crores of funds from people all across India and laundered this money by investing it in cryptocurrencies, largely Bitcoin. Subsequently the accused and his accomplices siphoned off the funds collected from the investors. Proceeds of Crime (POC) in the subject matter is Rs. 52 Crore. Further investigations are on to unearth the actual amount of POC.
The PMLA Special Court Hyderabad granted the ED custody of Ashish Malik on 8 September 2022. Following the court order, Ashish Malik was taken into ED custody on 10 September 2022 from the Tihar Jail, New Delhi, where he was lodged following his arrest by EOW, Delhi.