Indian Authorities Arrest Suspect in $160 Million Morris Coin Crypto Fraud

Indian authorities have made a significant breakthrough in the $160 million Morris Coin crypto fraud case, arresting an alleged suspect. On March 28, the Enforcement Directorate (ED) arrested Abdul Gafoor, a director of Stox Global Brokers and one of the accused in the Morris Coin fraud case. This follows the earlier news of Janarthanan Sundaram, a prime suspect wanted by Tamil Nadu police in a separate, but related, major financial fraud case to the tune of 6,000 crore, being returned to India. The Kozhikode sub-zonal Office of the Enforcement Directorate (ED) oversaw Abdul Gafoor's arrest. This arrest marks a crucial step in the ongoing investigation.

Details of the Morris Coin Fraud Case

The Morris Coin scam involved the alleged defrauding of unsuspecting investors through a fraudulent crypto scheme. Initial reports suggest about 43 victims were scammed out of Rs. 95. Further investigations are underway to uncover the full extent of the fraud and identify all individuals involved. The ED is actively pursuing all leads to recover the defrauded assets and bring the perpetrators to justice. The arrest of Abdul Gafoor is a testament to the Indian authorities' commitment to combating financial crimes and protecting investors from fraudulent schemes. The Morris Coin investigation continues to be a high priority for law enforcement agencies.

Related News: The arrest comes after news broke about Janarthanan Sundaram's return to India in connection with a separate financial crime.