ED Targets TradingFX Fraud, Freezes Rs 6 Crore in Bank Accounts

Guwahati:The Enforcement Directorate (ED) in Guwahati has ramped up its efforts to combat financial fraud by conducting a series of search operations in the city on . These actions are part of an investigation under the Prevention of Money Laundering Act (PMLA), 2002, focused on a fraudulent trading application known as “TradingFX” (tradingfx.live), which has reportedly defrauded a significant number of investors.During the operations, the ED successfully froze Proceeds of Crime (POC) amounting to ₹6.04 crore, which was distributed across 72 bank accounts linked to the fraudulent activities. This significant financial seizure underscores the agency’s commitment to addressing such scams and protecting investor interests.In a related case, Bhaskar Dutta, a YouTuber who allegedly played a key role in promoting the questionable trading platform TFAL, was summoned for questioning by the Dispur police. Dutta arrived at the police station for interrogation concerning his involvement in advertising the deceptive scheme.The investigation into TFAL has intensified following the arrest of its founder, Sapnanil Das, by Dispur police. Das is currently in judicial custody as the authorities work to uncover the full scale of the scam and identify all individuals involved.Dutta’s past complicates matters further; he was previously suspended from his position at the Assam Power Distribution Company Limited (APDCL) and is now under considerable scrutiny. The police are delving into his marketing efforts for TFAL, which reportedly attracted numerous unsuspecting investors.As the investigation progresses, the authorities aim to clarify the extent of these fraudulent trading operations and ensure accountability for those who contributed to the financial loss suffered by many victims. The crackdown reflects a broader commitment to safeguarding public trust in financial markets and curbing the rise of online scams.