Hyderabad: Enforcement Directorate on Wednesday arrested retired Army pensioner Tarachand Nimar, alleging that he played a key role in laundering proceeds generated by a fake call centre racket that targeted foreign nationals, particularly US citizens. The ED estimates the proceeds of crime in the case at around ₹200 crore.Tarachand is the father of Vikas Kumar Nimar alias Misty, whom the ED has identified as a key operator and beneficiary of the syndicate. According to the ED, Tarachand allegedly handled, concealed and layered funds generated through the illegal call centres and used the money to acquire commercial properties, land, shops and vehicles. Vikas was arrested last month by the ED for allegedly defrauding foreign nationals.The money laundering probe stems from 2023 FIRs registered at Madhapur police station. The CBI also registered a case against the syndicate on allegations of criminal conspiracy and cheating through illegal call centres.Gift cards converted into cryptocurrencyAccording to the investigation, members of the syndicate allegedly sent fraudulent emails carrying malware alerts or fake technical-support messages to foreign nationals. Victims were persuaded to call toll-free numbers, where callers allegedly impersonated representatives of reputed companies and convinced them to pay for purported services using gift cards.The gift cards were subsequently converted into cryptocurrency. The digital assets were then converted into Indian currency through informal cash settlements, hawala channels and banking transactions before being distributed among members of the syndicate, the ED alleged.The ED identified Vikas as the person who operated the call centres, while Tarachand allegedly managed the family’s finances and operated bank accounts in the names of dummy persons to conceal and layer the proceeds of crime.The investigation also named Tarachand’s wife Sumitra Devi, whose bank accounts were allegedly used to route funds. Another family member Avinash Kumar Nimar is accused of helping move funds, while Hitesh Vijayavargi, described as a close associate of the family, allegedly provided logistical support to the syndicate.₹12 cr credits in 4 accountsAnalysis of accounts linked to Tarachand and Sumitra allegedly revealed credits running into several crores. These included ₹7.5 crore in a Punjab National Bank account in Tarachand’s name, ₹2.3 crore in a Union Co-operative Bank account and ₹1.4 crore in a State Bank of India account.An account with Bank of Baroda in Sumitra’s name allegedly received credits of ₹1.1 crore. A significant portion of the funds was allegedly traced to the encashment of Bitcoin and other cryptocurrencies or routed through hawala settlements.Tarachand allegedly used a network of accounts held by family members and dummy persons, including Nimadevi, Jabraram and Godawari, to layer the money. The agency alleged that he was not merely a recipient of funds but had actively joined the criminal cartel after retiring from the Army.During the investigation, Tarachand attributed the credits to hand loans, agricultural income and commissions earned from real estate transactions. The ED alleged that he failed to produce documentary evidence to support these claims.He is also accused of influencing witnesses to prevent them from appearing before investigators and of providing inconsistent explanations regarding the source of his wealth. The ED booked him under sections 3 and 4 of the Prevention of Money Laundering Act for alleged money laundering.
