ED Seeks Spain's Assistance In ₹800 Crore OctaFX Probe, Targets Assets Linked To Pavel Prozorov
The Enforcement Directorate has sent a Letter of Request to Spain seeking assistance in the Rs 800 crore OctaFX money laundering probe involving promoter Pavel Prozorov. The agency is seeking records, evidence and execution of attachment orders covering properties, cryptocurrency assets and shell companies allegedly linked to the accused.
The Enforcement Directorate has sought Spain's assistance to secure assets and evidence linked to the alleged ₹800 crore OctaFX fraud investigation | Representative Image
Mumbai, July 13, 2026: The Enforcement Directorate (ED) has sent a letter of request to Spain regarding properties allegedly owned by Pavel Prozorov, the alleged mastermind behind the online forex trading platform OctaFX, seeking records and documents related to shell companies and further evidence against him.
ED Seeks Assistance From Spain
OctaFX is accused of cheating investors of over Rs 800 crore through its Indian subsidiary. The ED is probing alleged money laundering by the firm and its promoter, Prozorov, a Russian national presently residing in Barcelona, Spain.
The ED claimed that the investigation further revealed that several entities incorporated in the Kingdom of Spain, including M/s Amber Soluciones (AS) and M/s Mercats City SL, played a significant role in the functioning of the OctaFX network.
It further revealed that substantial digital infrastructure, servers, financial records and other evidence relevant to the present investigation are situated within the Kingdom of Spain.
Further, the ED has identified several movable and immovable properties situated in Spain that are beneficially owned by Prozorov and entities under his control.
Properties Worth Crores Attached
The ED claimed that in December 2024, 19 immovable properties situated in Spain, having an aggregate value of approximately Rs 41.73 crore, were provisionally attached.
Subsequently, in July 2025, three movable and two immovable properties situated in Spain, having an aggregate equivalent value of approximately Rs 131.45 crore, were provisionally attached.
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Besides, in September 2025, cryptocurrency assets valued at approximately USD 27,07,16,113, beneficially owned by Prozorov and presently under the control of the Spanish Guardia Civil, were provisionally attached.
Hence, the ED requires the assistance of Spain in executing the attachment of these assets and collecting further evidence against Prozorov and his shell companies.
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