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ED conducts raids in OctaFX Forex scam, seize assets worth Rs 160.8 crore
Updated On: 17 June, 2025 05:08 PM IST | Mumbai | Diwakar Sharma
The OctaFX, along with its Indian partner OctaFX India Pvt Ltd, operated in India without permission from the Reserve Bank of India (RBI). The platform reportedly collected over Rs 800 crore from Indian investors in under a year, under the pretext of offering foreign exchange trading, the ED said
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So far, the ED has seized, attached, or frozen assets worth Rs 160.8 crore, including properties located in Spain. Representational Pic/File
The Enforcement Directorate (ED) on Tuesday said that it carried out search operations at seven locations in Mumbai, Delhi, Chennai, and Gurgaon on June 13 2025 as part of an ongoing probe into a illegal online forex trading scam involving the OctaFX Trading App and its website www.octafx.com.
The searches were conducted under the Prevention of Money Laundering Act (PMLA), 2002, and resulted in the seizure of various incriminating documents and digital devices, officials said.
The investigation into the matter had began after an FIR was registered by Shivaji Nagar Police Station in Pune against suspects accused of cheating investors by making false promises of high returns through forex trading on the OctaFX platform.
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