India, June 15 -- New Delhi [India], June 15 (ANI) The Enforcement Directorate's ongoing investigation into Himachal Pradesh's cryptocurrency-based MLM scheme case has revealed a fraudulent amount of Rs 500 crore by fugitive kingpin of the case, Subhash Sharma, defrauding more than 2.48 lakh investors.

ED's revelation was based on recovered data that was deleted by the accused and their associates to conceal their activities.

"This criminal nexus then carried out layering by routing the funds through numerous accounts, fictitious firms, and intermediaries, and by converting a portion into cryptocurrency to obscure the audit trail, ED said in a statement.

After the scam came to light, ED said, Sharma reportedly fled to Dubai in an attem...