Enforcement Directorate (ED) officers arrested two men in Chennai over an alleged online fraud and crypto currency laundering scheme, with investigators seizing cash, cryptocurrency, and freezing bank accounts. The ED said Roshan Fiaz and Ammar were arrested on October 30, 2026 under the Prevention of Money Laundering Act (PMLA), 2002, in connection with a money laundering investigation related to online frauds. Investigators allege the two used networks of mule bank accounts and cryptocurrency, including USDT, to launder money taken from victims through multiple layers before transferring it onward. ED said it began the probe after FIRs registered by the State Cyber Crime Command Centre, Tamil Nadu Police, and by Cyber Crime Police Station, Cyberabad, Telangana, involving offences under the Bhartiya Nyaya Sanhita (BNS) 2023 and the Information Technology Act. During the investigation, the ED alleged the fraudsters contacted victims through social media platforms with offers tied to investment schemes, jobs, share market investments, and other online fraud methods. The defrauded money was then routed through mule accounts after being converted, before being sent to other accounts. ED claimed it identified more than 600 cybercrime complaints linked to the same network, alleging swindling of more than ₹400 crore. It alleged that Fiaz and Ammar, working with associates, orchestrated diversion and layering of proceeds of crime and siphoned funds into cryptocurrency. Earlier, ED carried out searches under Section 17 of the PMLA, 2002, at locations linked to the two men and associated entities. Those searches led to the seizure of ₹14.5 lakh cash and cryptocurrency worth ₹3.26 crore, and ED said it also froze ₹88.28 lakh in multiple bank accounts. The case is still at the investigation stage following the arrests under PMLA.