FCC Arrests Software Expert Over Alleged Rs 100 Million Money Laundering Scheme

A 36-year-old software engineer, known in tech circles as “Hacker,” has been arrested by the Financial Crimes Commission (FCC) following allegations of laundering nearly Rs 100 million through cryptocurrency investments.

Keshwarsingh Nadan was detained on Thursday, 9 April, after investigators became suspicious of his extravagant lifestyle and the presence of foreign currency bank accounts. He is expected to be formally charged in court this Friday, 10 April.

The Investigation

The FCC launched a raid on Mr Nadan’s luxury villa located in Morcellement Anna, Flic-en-Flac, after receiving intelligence regarding his financial activities.

Officers reported that the level of opulence found at the property was a primary factor in their investigation.

During the search, authorities seized a BMW saloon featuring a personalised “HACKER” number plate.

The vehicle was already subject to an attachment order following a prior police enquiry.

Several pieces of computer equipment were also confiscated and have been sent to the FCC forensic laboratory for digital analysis.

Crypto and Currency

Detectives believe the suspect used two foreign currency accounts to funnel funds into various cryptocurrency platforms, specifically targeting Bitcoin.

Mr Nadan, a specialist in software engineering, now faces intense questioning regarding the legality of these transactions and the true origin of his substantial assets.

Previous Legal Troubles

This is not the first time the IT expert has drawn the attention of law enforcement. In February 2022, the Central Criminal Investigation Department (CCID) obtained a restraining order against him during a fraud investigation.

In that instance, he was accused of defrauding a Belgian national of Rs 21.6 million (approximately $469,000).

The case involved the alleged non-transfer of 80 Bitcoins and a specialised computer used for Bitcoin mining.

The suspect remains in custody at Réduit Triangle as the investigation continues.

Source: Defi Media