ED freezes Rs 1.76 crore in SP Oswal digital arrest case
Initiated probe on basis of FIR registered by Ludhiana Cybercrime police station
The Directorate of Enforcement (ED) has attached bank balances worth Rs 1.76 crore from the account of an alleged mule entity used to receive and route proceeds of crime (PoC) generated from various cybercrimes and so-called digital arrests, in connection with the digital arrest case of prominent businessman and Vardhman Group chairman SP Oswal.
The seized amount was lying in the bank account of one such alleged mule entity, Mrityunjya Multitrade.
Further investigation has revealed that multiple mule bank accounts were used to launder the proceeds of cybercrime. These accounts were opened by luring economically vulnerable individuals with false promises of arranging loans or providing employment.
The ED initiated the probe on the basis of an FIR registered by the Cybercrime police station, Ludhiana, under the BNSS, 2023. Investigation so far has revealed that proceeds of crime generated from eight other cybercrime cases were also credited to the bank account of Frozenman Warehousing and Logistics on August 28, 2024.
The probe further revealed that during the digital arrest of Oswal, fraudsters impersonating officers of the Central Bureau of Investigation (CBI) extorted Rs 7 crore from him. The funds were routed through multiple mule accounts allegedly operated by the accused, Rumi Kalita and Arpit Rathore.
It was also found that Rumi Kalita established an association with Atanu Choudhary and used the bank account of his entity, Frozenman Warehousing and Logistics, to allegedly launder illicit proceeds.
Funds derived from other cybercrime and digital arrest cases were also credited into the accounts of Frozenman Warehousing and Logistics and Rigglo Ventures Pvt Ltd.
The proceeds of crime were subsequently transferred to multiple mule bank accounts in a systematic manner, facilitating the diversion and concealment of funds. A portion of the proceeds was further layered through various shell entities and routed outside India using trade-based money laundering mechanisms. The remaining funds were allegedly used for the acquisition of virtual digital assets.
Earlier, searches were conducted in connection with the case. Accused Rumi Kalita was arrested on December 23, 2025, while co-accused Arpit Rathore was arrested on December 31, 2025. Both are currently in judicial custody.
