{
  "id": 2181947,
  "title": "ED Searches Mumbai, Thane In ₹113-Crore MTC Cryptocurrency Fraud Case",
  "url": "https://urgent.news/2026/08/20/ed-searches-mumbai-thane-in-113-crore-mtc-cryptocurrency-fraud-case",
  "topic": "world",
  "section": "World",
  "published": "2026-08-20T16:26:36.000Z",
  "source": {
    "name": "Free Press Journal",
    "slug": "free-press-journal",
    "url": "https://www.freepressjournal.in/mumbai/ed-searches-mumbai-thane-in-113-crore-mtc-cryptocurrency-fraud-case"
  },
  "original_language": "en",
  "account": "The Enforcement Directorate (ED) conducted searches in Mumbai and Thane as part of an investigation into a cryptocurrency fraud involving Money Trade Coin (MTC). The fraud allegedly resulted in investors losing around Rs 113.10 crore. The searches, conducted under the Prevention of Money Laundering Act (PMLA), led to the seizure of approximately Rs 1 crore in cash and incriminating documents. The case follows a probe initiated by Thane City Police against Amit Madanlal Lakhanpal, the alleged mastermind, along with four others. According to the ED, Lakhanpal created and promoted an unrecognised cryptocurrency, MTC, and lured investors by promising high returns. The investigation found that several schemes and exchange platforms were involved in manipulating MTC's value to attract investors. Lakhanpal and some of his associates allegedly left India and are currently in Dubai under assumed identities.",
  "summary": "Mumbai, August 20, 2026: The Enforcement Directorate (ED) has conducted searches at multiple locations in Mumbai and Thane as part of a money laundering investigation into an alleged cryptocurrency investment fraud involving Money Trade Coin (MTC), in which investors were allegedly cheated of around Rs 113.10 crore, officials said. The searches, conducted by the ED’s Mumbai Zonal Office under the…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}