Overview

• The latest provisional order under the Prevention of Money Laundering Act targets a luxury yacht named Cherry, a minijet boat, a high-end car and two Spanish residences valued at ₹131.45 crore.
• The probe traces back to a Pune FIR accusing OctaFX of operating as an unauthorised forex broker and duping investors with false promises of high returns.
• ED investigators uncovered at least ₹800 crore in illicit proceeds routed through mule accounts, shell e-commerce firms and manipulated KYC processes.
• Stolen funds were moved abroad as fake service imports to entities controlled by Pavel Prozorov across Spain, Estonia, Russia, Hong Kong, Singapore, the UAE and the UK.
• Prosecution complaints have been filed against OctaFX and 54 other accused under the PMLA, and additional asset seizures and legal actions are expected.