The proceeds of this illegal operation were used to acquire six immovable properties in Dubai, which were valued at 7,760,500 Dirhams (approximately Rs 15,73,51,250), it added.“Prior to the Silver Notice, the CBI had also secured a Blue Notice through INTERPOL to trace Shubham’s whereabouts, underscoring the agency’s relentless pursuit of justice. The Silver Notice now aims to locate and monitor his Dubai-based assets, paving the way for potential recovery efforts,” it said.In another case, which pertains to Amit Madanlal Lakhanpal’s cryptocurrency scam, the CBI secured Silver Notice on May 26, 2025. Lakhanpal created an unrecognised digital currency called MTC, luring investors with false promises of high returns, the CBI said.“Without requisite permissions from the Reserve Bank of India (RBI) or the government, he collected approximately Rs 113.10 crore from unsuspecting investors. Instead of delivering on his promises, Lakhanpal embezzled the funds, leaving investors financially devastated,” it said.“To bolster his fraudulent scheme, Lakhanpal impersonated an authorised representative of India’s Ministry of Finance, further deceiving investors. A Red Notice had previously been issued against him through INTERPOL to aid in his apprehension. The Silver Notice now targets his assets worldwide, aiming to identify and recover the illicit proceeds of his cryptocurrency scam,” the CBI said.The issuance of these Silver Notices marks a turning point in India’s fight against transnational financial crime. By leveraging INTERPOL’s global network, the CBI, alongside agencies like the ED and the Narcotics Control Bureau (NCB), is sending a clear message that the proceeds of crimes would not remain hidden, no matter where they are stashed.
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