Alleged Money Laundering of Rs 100 Million - FCC: Hacker Caught by His Lavish Lifestyle
A 36-year-old IT expert has been arrested by the Financial Crimes Commission (FCC) for allegedly laundering nearly Rs 100 million through cryptocurrency investments. His luxurious lifestyle and foreign currency bank accounts raised the suspicions of investigators. He is expected to be provisionally charged this Friday.
Keshwarsingh Nadan, a software engineering specialist, was taken into custody on Thursday, April 9, as part of the money laundering investigation. A resident of Flic-en-Flac, he is suspected of laundering approximately Rs 100 million through cryptocurrency investments. The funds were held in foreign currencies across two bank accounts. His extravagant lifestyle has caught the attention of investigators.
Following tips, FCC officers raided the villa occupied by the suspect in Morcellement Anna, Flic-en-Flac. The level of luxury observed at the scene drew the investigators' attention. Keshwarsingh Nadan was subsequently taken to Réduit Triangle for questioning.
Known by the nickname "Hacker," he is suspected of laundering money through investments on cryptocurrency platforms, including Bitcoin. During the search, investigators found a BMW sedan with a personalized license plate reading "HACKER," the financing of which is considered suspicious. This vehicle is already under an Attachment Order due to a police investigation targeting Keshwarsingh Nadan. Computer equipment was also seized and is currently being analyzed at the FCC forensic lab.
The suspect will have to explain the origins of his assets and the legality of his cryptocurrency-related activities.
Additionally, Keshwarsingh Nadan had previously been investigated for fraud. In February 2022, a restraining order was issued against him in connection with an investigation by the Central Criminal Investigation Department (CCID). He was accused of defrauding a Belgian national of Rs 21.6 million in a case involving the non-transfer of 80 bitcoins and a computer used for Bitcoin mining. The victim estimated the loss at USD 469,000, approximately Rs 21.6 million.
