ED searches Coinswitch Kuber’s five locations in money laundering probe

The Enforcement Directorate (ED) Thursday carried out searches at five locations linked to Coinswitch Kuber in connection with its money laundering probe into the instant micro loan app scam, sources privy to the development told ET.

This is the third exchange under the scanner of the federal agency for allegedly diverting proceeds of crime raised by 365 instant loan apps by offering loans at exorbitant rates of interest and then using tele-callers to recover them.