Bengaluru: ED attaches ₹3.70 cr. in online advertisement fraud case
The Enforcement Directorate has attached assets worth ₹3.70 crore belonging to JAA Lifestyle India Private Limited due to an alleged online advertisement fraud. The company is accused of collecting funds from members under the guise of an earning program that never materialized.
Why it matters
This case serves as a warning regarding the prevalence of online financial scams targeting individuals with promises of easy income.
The Directorate of Enforcement (ED), Bengaluru Zonal Office, has provisionally attached movable assets worth approximately ₹3.70 crore in connection with an alleged online advertisement viewing fraud operated by JAA Lifestyle India Private Limited.
According to a release issued on Friday, the attachment was made on July 22, under the provisions of Section 5(1) of the Prevention of Money Laundering Act (PMLA), 2002. The attached assets comprise bank balances held in accounts of JAA Lifestyle India Pvt. Ltd.
The money laundering investigation stems from an FIR registered by Magadi Road Police Station in Bengaluru against the company’s directors and others under various provisions of the Indian Penal Code.
The ED said its investigation found that the company operated a membership-based scheme in which individuals were approached through WhatsApp and other online platforms with promises of earning money by viewing digital advertisements.
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