India Freezes Assets Linked to Man Jailed in US Over $20M Crypto Fraud

Key Points

1. The confiscated assets include properties in Delhi and bank accounts linked to Chirag Tomar, 31, and his relatives.

2. Tomar was sentenced to five years in U.S. federal prison in October 2024 for defrauding investors of $20 million through fake Coinbase websites.

3. The fraud involved laundering roughly $72 million (₹600 crore) by converting the funds to Indian rupees.

4. Tomar's scheme included posing as Coinbase representatives to trick victims into emptying their crypto accounts.

5. The Enforcement Directorate initiated its investigation following Tomar's arrest in the U.S. in December 2023.