Chandigarh [India], February 4 (ANI/PNN): Chandigarh-based share-mobility platform Fico mobility announced on Monday of raising an undisclosed amount in seed funding from investment firm SR Consultancy Services.

New Delhi Dec 22 PTI The Enforcement Directorate ED on Wednesday said it has attached funds worth Rs 4064 crore as part of a money-laundering probe in connection with a case of cheating gullible depositors through fake mobile phone applications linked to payment gatewaysThe attached money in accordance with the provisions of the Prevention of Money Laundering Act PMLA is in the form of bank deposits and an amount held with payment solutions providers it saidThe federal probe agency did not disclose the identity of either a businessmen accused in the alleged cheating racket or the payment gateways involvedIn a statement the ED said its case is based on a June 1 FIR of the cyber crime cell of the Bengaluru PoliceIn the police FIR it was alleged that the accused entities induced the public to invest through Powerbank and Sunfactory applications on mobile phones by assuring to remit interest on daily or weekly basisThe accused entities closed their purported business after collecting huge sum of money from gullible public the agency saidThe accused neither paid interest nor returned the principal amount to the investors and withheld their money through these fraudulent mobile applications it addedThe ED investigation found that the accused entities accepted investment of more than Rs 300 crore by setting up a merchant account on behalf of a seemingly legitimate business and availed payment solutions from payment gateways and payment solutions companiesThe agency alleged that the accused entities deviated from their declared line of business and collected money from the public by floating untenable investment schemes through mobile applications listed on Google PlaystoreThe funds have been settled into the accused entities bank accounts after collection from the public in the name of investment with the help of illicit use of services provided by payment aggregators it said PTI NES RC