In the Hon’ble Sessions Court (PMLA), Kolkata, on August 11, 2023, the Directorate of Enforcement (ED) filed a Prosecution Complaint under the Prevention of Money Laundering Act (PMLA), 2002 against Kunal Gupta, Director of M/s Met Technologies Pvt Ltd., and eight other individuals. The ED sought the punishment of the aforementioned accused individuals for the offence of money laundering and the confiscation of the proceeds of crime worth Rs 67.33 Crore. The Prosecution Complaint was received by the Honorable Sessions Court of Kolkata on November 16, 2023.
The ED opened an inquiry after the Bidhannagar Police filed a formal complaint (FIR) claiming significant charges against M/s Met Technologies Pvt. Ltd. and its affiliates under several sections of the Indian Penal Code, 1860, including cheating, forgery, and criminal conspiracy. The firm was operating an illegal contact centre in Salt Lake, Kolkata, which was involved in fraudulent operations both domestically and abroad. The investigation that followed led to the closure of the call centre by the police.
Representatives of the aforementioned firm targeted naive citizens in the USA, UK, and Australia, according to an ED probe. By posing as representatives of reputable firms, they deceived individuals. They did this by offering fake tech help, making false promises on websites, and offering loans through phoney mobile applications. They forced their victims to make large payments, and they made Rs 145 crore in illegal profits. Allegedly, Kunal Gupta was the brains behind the operation of fictitious contact centres within his company’s headquarters.
Additionally, it is stated that Kunal Gupta engages in unlawful betting and internet gambling. He founded businesses in Australia, the US, and the UK. It is also reported that Ofcom, the UK’s telecom regulator, has imposed severe fines on two of his UK-based businesses for the unlawful practice of “slamming,” which involves changing a customer’s phone service provider without authorization.
According to investigations, the tainted money was purportedly laundered through a convoluted network of businesses that were beneficially owned or controlled by him, his family, and his employees. The money was then allegedly channelled into the hospitality industry, which includes cafes, hotels, and nightclubs, in an attempt to conceal and project the proceeds of crime as lawful income.
The ED detained Kunal Gupta on October 9, 2023. Under the PMLA, 2002, the ED conducted search operations at Kunal Gupta’s residential and business properties, as well as the properties of his key employees and companies. These operations yielded the recovery and seizure of foreign and Indian currency valued at approximately Rs 10.56 Lakh, along with property documents valued at approximately Rs 41.50 Crore and other incriminating documents. On July 11, 2023, a provisional attachment order of Rs 67.23 crore was also issued, attaching both movable and immovable assets belonging to Kunal Gupta, his family, his firms, and a few business partners. Further research is now being conducted.
