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YaMarkets Launches "YaMarkets Al"- Trade Analysis Tool

ED Questions TV Actors Over Illegal Forex Trading Promotion

WikiFX

| 2024-07-04

Abstract：ED questions TV actors Karan Wahi and Krystle D'Souza over promoting the illegal forex trading platform OctaFX. Investigation reveals unauthorized operations in India.

The Enforcement Directorate (ED) questioned television actors Karan Wahi and Krystle D'Souza on Wednesday for promoting the forex trading platform OctaFX and accepting payments for their endorsements, according to sources familiar with the matter. Their statements were officially recorded by the authorities.

In April, the ED's Mumbai Zonal Office conducted searches under the Prevention of Money Laundering Act (PMLA) in Mumbai, Chennai, Kolkata, and Delhi. These searches were part of an ongoing investigation into unlawful online forex trading via overseas brokers, with a particular focus on the OctaFX Trading App and the website www.octafx.com.

During the raids, police froze ₹2.7 crore in bank money and confiscated several papers and digital gadgets. These procedures were conducted in response to a complaint filed by the Shivaji Nagar Police Station in Pune. The FIR accused numerous persons of luring people in with false promises of big profits and cheating them under the guise of forex trading via OctaFX.

According to investigations, OctaFX operates in India via M/s OctaFX India Pvt Ltd. Notably, neither the app nor the website are sanctioned by the Reserve Bank of India. The investigation revealed that these firms made roughly ₹500 crore in earnings from their activities in India.

Disclaimer:

The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.

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FCA Warning Capital Zodiac 7 September 2026 and Seven Checks Before Paying

The FCA named Capital Zodiac as an unauthorised clone on 7 September 2026. Check capitalzodiac.com, capitalzodiac.net and FRN 806702 before paying.

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WEALTH-FX Review India 2026: SVG FSA Claim and RBI Forex Check

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ePlanet Review 2026: Did Traders Report Withdrawal Blocks & Slippage Issues?

Did ePlanet, a Comoros-based brokerage, allegedly withhold your dollars on the platform? Did the broker prevent you from accessing the ePlanet login dashboard upon a withdrawal request? Did the broker platform execute trade orders slowly? Have you faced losses due to slippage? This ePlanet review 2026 evaluates user claims while also providing a regulatory overview of the broker.

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FCA Warns EXOTICINVEST on 3 September 2026 with Seven Checks Before Paying

FCA warns EXOTICINVEST in a notice first published and updated on 3 September 2026. The UK regulator identifies EXOTICINVEST TRADING AND INVESTMENT FIRM and the website www.exoticinvest.ltd, stating that the firm is not authorised and may be targeting people in the UK. This is a dated regulatory warning, not a customer review or a confirmed loss report. Anyone approached through the named website should stop before paying, avoid sharing login credentials and verify the exact business independently through the FCA Firm Checker.

Original Two days ago