India, Nov. 6 -- The Enforcement Directorate (ED) has arrested two individuals in a Rs.400 crore cyber fraud network, in which the accused allegedly offered investment schemes and jobs to cheat people, then laundered the money through mule bank accounts and cryptocurrency wallets, officials said.

The agency has identified as many as 600 cybercrime complaints in the matter.

The arrested persons have been identified as Roshan Fiaz and Ammar, who, the agency said in a statement on Thursday evening, were taken into custody last week.

ED's probe under the Prevention of Money Laundering Act (PMLA) stems from a dozen first information reports (FIRs) registered across Telangana, Tamil Nadu, Karnataka and West Bengal over a period of time.

ED ...