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ED Quizzes TV Actors in Forex Scam

The Enforcement Directorate (ED) Wednesday questioned television actors Karan Wahi and Krystle D’Souza for promoting forex trading platform OctaFX and receiving cash for it, said people in the know. Their statements were recorded.

The ED’s Mumbai Zonal Office had conducted search operations in April this year under the Prevention of Money Laundering Act at various locations in Mumbai, Chennai, Kolkata and Delhi as part of an ongoing probe into illegal online forex trading through international brokers OctaFx Trading App and website www.octafx.com.

During the course of search operations, bank funds to the tune of ₹2.7 crore have been frozen and various incriminating documents, digital devices have been found and seized.

The federal agency had launched a probe on the basis of an FIR registered by Shivaji Nagar Police Station, Pune, against several persons for involvement in “showing false temptations of high returns and duping persons” in the guise of forex trading through OctaFx.

People in the know said ED’s investigation revealed that the OctaFx app and website are operating in India in association with India based entity M/s OctaFx India Pvt Ltd. The app and its website are not authorised by the RBI. The probe also revealed that the entities earned a profit of ₹500 crore from India, said the people quoted above.

S-ET Image Sources: Google

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