Archive · 4 Jul 2025
ED Attaches Assets in Spain in OctaFX Forex Scam
Imagine a company called OctaFX that promised high returns on investments but was actually a scam.
They used fake accounts and manipulated trades, stealing money from people.
The government has now seized assets worth a lot of money in Spain, linked to the person in charge of this scam.
OctaFX hid its activities and laundered money through fake businesses.
The company is believed to have stolen at least ₹800 crore from people in India.
ED attached assets worth approximately ₹131.45 crore in Spain linked to OctaFX.
Attached assets include a luxury yacht, boat, car, and two residential properties.
Pavel Prozorov, the alleged mastermind, is a Spanish national.
The ED's probe followed a Pune Police FIR alleging investor fraud.
OctaFX laundered funds through mule accounts and fake e-commerce firms.
- Who
- The assets are linked to Pavel Prozorov, the alleged mastermind behind OctaFX, accused of defrauding investors.
- What
- The Enforcement Directorate attached assets worth approximately ₹131.45 crore in Spain related to the OctaFX forex trading platform.
- When
- The attachment occurred following an investigation into the forex-trading platform OctaFX.
- Where
- The assets are located in Spain.
- Why
- The ED is investigating OctaFX for allegedly cheating investors and laundering funds.
Investors
OctaFX
Financial Loss
Investors
Victims of the fraudulent scheme.
OctaFX
N/A
- Attached Assets Value
- Approximately ₹131.45 crore
- Assets Included
- Yacht, boat, car, two residential properties
- Location of Assets
- Spain
- Case Origin
- FIR by Pune Police
- OctaFX Allegations
- Defrauding investors, money laundering
- Estimated Proceeds of Crime
- At least ₹800 crore
