BENGALURU: The Directorate of Enforcement (ED) in Bengaluru has conducted searches in connection with a cryptocurrency-linked money laundering case involving the sons of Congress MLA NA Harris, Srikrishna Ramesh alias Sriki and others.
The ED in an official press release issued on Monday said, "It is conducting search action against Srikrishna Ramesh alias Sriki and other accused persons at 12 premises spread across Karnataka including the residence of Mohammed Haris Nalapad and Omar Farook Nalapad - sons of Congress sitting MLA from Shantinagar constituency in Bengaluru, NA Harris."
“The searches are being conducted under the Prevention of Money Laundering Act (PMLA), 2002. The investigation so far has revealed that Mohammed Harris and Omar Farook are close associates of Srikrishna Ramesh and are main beneficiaries of Proceeds of crime,” the ED added.
The investigation is based on multiple FIRs and chargesheets filed by Karnataka Police in a 2017 case involving hacking of national and international websites, theft of bitcoins, extortion, and violations of the Narcotic Drugs and Psychotropic Substances (NDPS) Act, 1985 by Srikrishna and others.
“Investigation under PMLA has revealed the modus operandi by the accused persons, which includes hacking of websites/wallets to steal virtual digital assets (VDAs), data/money (Proceeds of crime); sale of stolen VDAs were routed through crypto trading platforms etc,” the ED stated.
The agency said the “sale proceeds were layered by transferring them through bank accounts. These sale proceeds were used by Srikrishna and his associates for personal benefit,” adding that further investigation is in progress.