The Enforcement Directorate on July 3 recorded the statements of TV actors Krystle D’Souza and Karan Wahi in a money laundering case related to the alleged illegal online forex trading app, OctaFx. The ED had summoned another actress, Nia Sharma, too, but she excused herself, citing a prior commitment. A few Bollywood actors, who, too, promoted this app, may soon face ED interrogation.
The ED has alleged that people were lured into investing money through the app after seeing videos of celebrities and social media influencers made for the purpose. It said that the promoters of the app, reportedly based abroad, had roped in these celebrities to create videos through production houses.
According to the ED, the OctaFx app and website are operating in India in association with the India-based entity, OctaFx India Pvt. Ltd., without the Reserve Bank of India’s authorisation to deal in forex trading. It is alleged that OctaFx has manipulated trade activities and information shown on its platform, ultimately resulting in a net loss to the traders. The accumulated funds, after defrauding these investors and users, were transferred to multiple e-wallet accounts or bank accounts of dummy entities. In this way, OctaFx India Pvt. Ltd. and its sister concerns cheated investors and made a profit of more than Rs. 500 crore from the Indian region alone.