Fraud of 1157 crores by High rich owners, 1138 crores transacted through HR Coin, figures released by ED

THRISSUR: Enforcement Directorate has found that owners of Highrich Company have seized Rs 1157 crore through money chain fraud. According to the figures released by ED, Rs 1138 crore has been collected from investors through the launch of a coin called HR Coin. The ED also stated that Highrich conducted the biggest black money transaction in recent times. ED's disclosure came after raids on the houses of Highrich owners K.D Prathapan and Sreena Prathapan.

1157 crore rupees were stolen through five companies. They have transacted crores of black money through crypto transactions. 212 crores were in 50 bank accounts in the name of five companies. It has been frozen by ED. It is also suspected that the collected money was smuggled abroad. Prathapan and his wife Sreena used to deal with investors through Highrich coupons.

Highrich online shop owners K.D Prathapan and Sreena who escaped before ED's raid are still absconding. A case has been registered against them for money laundering under PMLA.