2 min readJalandharUpdated: Feb 18, 2026 10:22 AM IST
The Directorate of Enforcement (ED), Jalandhar Zonal Office, has provisionally attached a bank balance of Rs 1.76 crore in connection with their ongoing money laundering investigation into the digital arrest of businessman SP Oswal, officials said on Tuesday.
The action was taken under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, following an FIR registered by the Cyber Crime police station in Ludhiana under the Bharatiya Nyaya Sanhita (BNSS), 2023.
Rs 7 crore extorted
According to ED officials, the investigation found that fraudsters posing as Central Bureau of Investigation (CBI) officers extorted around Rs 7 crore from Oswal after digitally arresting him.
According to officials, the ED probe found the illicit funds were routed through multiple mule bank accounts operated by the accused, identified as Rumi Kalita and Arpit Rathore. The agency stated that the accused used accounts linked to entities, including Frozenman Warehousing and Logistics and Riglo Ventures Pvt Ltd, to launder the proceeds of crime.
Investigators further discovered that proceeds from at least eight other cybercrime cases were also credited into these accounts.
Complex laundering network unearthed
Officials said the funds were systematically transferred through a network of mule accounts to conceal their origin. A part of the money was layered through shell entities and routed outside India using trade-based money laundering mechanisms, while a portion of the funds was used to acquire virtual digital assets, they added.
The attached Rs 1.76 crore was found in the bank account of Mrityunjaya Multitrade, which investigators claim was used to receive and route proceeds from various cybercrime and digital arrest cases.
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Officials said several mule accounts were opened by luring economically vulnerable individuals with false promises of loans or employment.
Arrests, ongoing probe
Search operations were conducted on January 31, 2025, December 22, 2025, and December 31, 2025. The ED confirmed that Rumi Kalita was arrested on December 23, 2025, while Arpit Rathore was arrested on December 31, 2025. Both accused are currently under judicial custody.
Officials said further investigation is ongoing.
