Quick Summary
Directorate of Enforcement (ED), Headquarters Unit, New Delhi, has arrested CA Ashok Kumar Sharma and CA Bhaskar Yadav on 28.02.2026 under the provisions of the PMLA, 2002, in connection with the investigation of a cyber fraud case. Investigation conducted by ED revealed a large-scale cyber-enabled fraud wherein innocent citizens across India were induced to transfer funds on the pretext of investment opportunities, part-time job schemes, QR code-based scams, phishing operations, and other frau
Daily Limit Reached
You have reached your daily limit of 2 Free News
Subscribe to CCI PRO for unlimited access
Why Upgrade to CCI PRO?
- No Ads
- WhatsApp Community
- Daily E-Newsletter
- Unlimited News Access
- Profile Visitors
- Link Social Profiles
- Featured Job Posts
- Pro Badge
- Expert GST Guidance
- Unlimited Forum Replies
- Download Content in PDF
1 Year PLAN - Rs.1999
1799
(Excl. of GST ₹323)
2 Years PLAN - Rs.3499
3149
(Excl. of GST ₹566)
BEST VALUE
3 Years PLAN - Rs.4999
4499
(Excl. of GST ₹809)
View all CCI PRO benefits
Already a PRO member? Login here for an ad-free experience. 07941056694
FAQ :
Chartered Accountants Ashok Kumar Sharma and Bhaskar Yadav have been arrested by the Enforcement Directorate (ED).
The proceeds of the cyber fraud amounted to approximately £641 crore.
Funds were laundered through mule accounts, a web of dummy/shell entities, then transferred via debit cards to a UAE-based fintech platform called 'PYYPL', and subsequently converted into Virtual Digital Assets (VDAs) via the Binance crypto exchange.
Ashok Kumar Sharma and Bhaskar Yadav were part of a structured syndicate of professionals, including other Chartered Accountants, who incorporated and controlled over 20 entities used for layering illicit funds.
Yes, two Provisional Attachment Orders have been issued, attaching movable and immovable properties valued at approximately £8.67 crore.
A total of 10 individuals have been arrested in this case so far, including Ashok Kumar Sharma and Bhaskar Yadav.
CAclubindia
