Sushmita Goswami | Apr 23, 2022 |
ED attached assets worth Rs. 6.28 Crore of Saradha Group of Companies for running illegal ponzi schemes
In connection with a complaint filed against Saradha Group of Companies for running unlawful ponzi schemes by duping ordinary people, the Directorate of Enforcement (ED) has provisionally attached assets worth Rs. 6.28 crore in the state of Assam under the Prevention of Money Laundering Act (PMLA), 2002.
On the basis of many FIRs and Chargesheets filed by various law enforcement agencies under sections 120B and 420 of the IPC against various Saradha Group firms, the ED launched a money laundering probe.
The ED investigation indicated that Saradha Group entities had invested in a variety of moveable and immovable properties in order to launder criminal proceeds. The entire amount of proceeds of crime (POC) identified so far in the case is Rs. 41.46 crore. Previously, a PAO was issued with five immovable assets valued at Rs. 4.35 crore, and the Ld. Adjudicating Authority confirmed the same.
Further investigation is in progress.
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