ED Raids Rock Kangra and Mandi in ₹2,000‑Crore Crypto Scam Probe
A quiet Saturday morning in Himachal Pradesh’s Kangra and Mandi districts turned tense as the Enforcement Directorate (ED) launched coordinated raids linked to a massive cryptocurrency fraud estimated at nearly ₹2,000 crore. According to officials, at least 78 people from the state are already under the agency’s scanner, and more action is expected in the coming days.
The ED teams began their operations early, conducting simultaneous searches in Sundernagar (Mandi) and Nagrota Bagwan (Kangra). These raids are part of an ongoing investigation into alleged large‑scale cheating of investors through crypto‑based schemes that promised high returns but left many people defrauded.
Raids Across Multiple Locations
In Kangra, ED officers reached two homes in the Tharu and Kabari areas of the Nagrota Bagwan Assembly constituency around 7 am. They examined documents, digital records and questioned residents about financial transactions linked to the suspected scam. The searches continued for several hours.
In Sundernagar, the agency raided the home of Ravikant, a resident of Chambi village, who is accused of duping investors of crores through crypto investments. Another location linked to one of his associates was also searched. Officials seized documents, electronic devices and transaction records as part of the probe.
Investigation Under PMLA, Police Kept Out of Loop
Sources confirmed that the case is being investigated under the Prevention of Money Laundering Act (PMLA). During the Nagrota Bagwan operation, ED officials also questioned a retired electricity board officer and a pharmacist. Another individual under scrutiny reportedly runs a school bus business and had invested in cryptocurrency, allegedly convincing others to join in.
The ED teams reportedly arrived at some locations as early as 5 am, sparking curiosity and speculation among locals. Interestingly, the local police were not informed beforehand, adding to the buzz surrounding the sudden crackdown.
