ED Attached 16 Immovable Properties Worth Rs.137.60 Crore of Dreamz Infra India Ltd
The Directorate of Enforcement (ED) has provisionally attached 16 immovable properties held in the name of Dreamz Infra India Ltd., TGS Constructions Pvt. Ltd., Disha Choudhary, MD of Dreamz Infra India Ltd, Mandeep Kaur, MD of TGS Constructions Pvt. Ltd and other related persons/entities on 27.06.2022 in connection with the Ponzi investment scheme run by them.
Examination by ED uncovered that the modus operandi received by these companies/persons was that they tricked the common open by taking gigantic stores promising reasonable flats in and around Bangalore. It is uncovered from the examination that from the year 2011-12 to the year 2016-17, the charged entities/persons collected more than Rs. 722 Crore from more than 10,299 clients and misused the said stores for their possess benefits and deceived/cheated the simple clients without giving over the pads and without discounting the store sums to them and the charged people assist debilitated the clients with critical results.
Examination by ED advance uncovered that the most denounced people within the matter have layered the depositors’ cash into different bank accounts, along these lins pulling back the same in Cash and redirecting to the other irrelevant businesses and investing the same on their individual benefits like making Bollywood motion pictures, contributing in IPL Group, investing extravagantly on personal parties, relational unions, endowments, contributing in common Stores within the title of their children, etc., without the information of contributors. The connected undaunted properties are in different places in Bengaluru and add up to esteem of Rs. 137.60 Crore and now further investigation is in progress.