India’s Directorate of Enforcement (ED) has provisionally attached assets worth ₹10.86 crore in connection with a large-scale land & cryptocurrency investment fraud involving Sandeep Yadav & others, according to an official press release issued on January 13, 2026.
The attached assets include immovable properties worth ₹6.06 crore and cryptocurrencies valued at ₹4.79 crore, held in the form of Ramifi tokens across multiple crypto wallets. The attachment has been carried out under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.
- Assets Attached Under PMLA
- Fraudulent Plot Sales & Crypto Investment Lure
- Cash Routing & Crypto Laundering Trail
- Current Status of Investigation
Assets Attached Under PMLA
The provisionally attached assets include:
- Flats & land worth ₹6.06 crore
- Cryptocurrencies worth ₹4.79 crore, held in crypto wallets in the form of Ramifi tokens
According to investigators, these assets represent proceeds derived from alleged fraudulent activities involving land transactions & crypto investment schemes.
Fraudulent Plot Sales & Crypto Investment Lure
The ED’s investigation was initiated following an FIR registered by the Haryana Police against Sandeep Yadav, Manoj Yadav, & other associates. According to investigators, the accused allegedly cheated around 20 individuals by fraudulently selling plots & luring investors with false promises of unusually high returns through cryptocurrency investments.
The agency stated that the accused generated Proceeds of Crime (PoC) amounting to approximately ₹26.54 crore, primarily through inducement, misrepresentation, & deceptive property transactions. Victims were reportedly convinced to invest both in real estate & crypto schemes that had no legitimate backing.
Cash Routing & Crypto Laundering Trail
A detailed financial probe revealed that the defrauded funds were siphoned through third-party bank accounts, followed by large cash withdrawals. The ED noted that most transactions were conducted in cash, complicating traceability.
Portions of the proceeds were subsequently diverted into movable assets, real estate, & cryptocurrency holdings. The presence of Ramifi tokens in the attached crypto wallets highlights the growing role of digital assets in money-laundering investigations, especially in cases where traditional banking trails are deliberately obscured.
The agency stated that Sandeep Yadav & his associates are habitual offenders, with multiple FIRs registered against them for similar frauds involving land deals & false investment promises.
Earlier searches conducted across 10 locations resulted in the recovery of:
- Cryptocurrencies worth ₹17 crore
- ₹46 lakh across various bank accounts
These amounts were frozen earlier under PMLA provisions.
Current Status of Investigation
The agency confirmed that further investigation is currently underway, with a focus on tracing additional assets, identifying wider accomplice networks, & examining the role of crypto instruments in concealing illicit proceeds.
The case underscores the ED’s expanding scrutiny of crypto-linked financial crimes, especially where digital tokens are used alongside traditional fraud mechanisms such as fake real-estate deals & cash-based laundering.
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