India’s Enforcement Directorate (ED) has frozen assets worth approximately $1.3 million, including cryptocurrencies, as part of a broader $3.2 million land and investment fraud investigation, according to an official press release dated January 13, 2026.
Assets Seized Under Anti-Money Laundering Law
The action was carried out by the Enforcement Directorate, operating through its Chandigarh Zonal Office, under provisions of the Prevention of Money Laundering Act (PMLA), 2002. Authorities provisionally attached both movable and immovable assets linked to a land fraud scheme involving Sandeep Yadav and associates.
🇮🇳 JUST IN: India’s Enforcement Directorate freezes $1.3M including crypto assets, in a $3.2M fraud case. pic.twitter.com/BfiV8s46hy
— Cointelegraph (@Cointelegraph) January 14, 2026
According to the release, the attached assets include real estate valued at roughly $730,000 and cryptocurrencies worth about $580,000, held in digital wallets. The crypto assets were identified as Ramifi tokens stored across multiple wallets.
Fraud Allegations and Investigation Scope
The ED’s probe followed an FIR filed by Haryana Police, alleging that the accused conspired to defraud members of the public by selling land plots under false pretenses and promoting cryptocurrency investments with promises of unusually high returns.
Investigators stated that approximately 20 individuals were cheated, with total proceeds of crime estimated at $3.2 million. A significant portion of the funds was allegedly routed through third-party bank accounts, withdrawn in cash, and later converted into physical assets and cryptocurrencies to obscure their origin.
Prior Seizures and Repeat Offenses
The investigation also revealed that the accused are habitual offenders, with multiple FIRs registered against them. Earlier searches at ten locations reportedly led to the recovery of additional cryptocurrencies worth about $2 millionand cash balances of roughly $550,000 across linked bank accounts, all of which were frozen under PMLA provisions.
Ongoing Enforcement Action
The Enforcement Directorate confirmed that the investigation remains ongoing, with further financial tracing and asset identification underway. Officials emphasized that the case highlights the growing use of digital assets in financial crime and the agency’s expanding focus on tracking and freezing crypto-linked proceeds under India’s anti-money laundering framework.
