ED arrests Gujarat cryptocurrency trader in ₹1,100 cr Chinese betting scam
The Enforcement Directorate (ED) on Friday arrested Gujarat-based cryptocurrency trader Naisar Kothari in connection with its money laundering probe linked to an online Chinese betting scam and hawala transactions of over ₹1,100 crore. Kothari had transferred Tether or USDT cryptocurrency for Chinese companies to launder money. He was booked under the Prevention of Money Laundering Act (PMLA).