New Delhi, Jul 18: Enforcement Directorate (ED) has attached assets totaling around Rs 200 crores under the provisions of Prevention of Money Laundering Act (PMLA) in a Ponzi Scheme case, an official statement said here on Thursday.
“The attached assets include lands, flats, factories, hotels, amusement park, tea estate, office spaces, shops, registered in the name of sixteen different companies of Basil International Limited (BIL) in Assam, West Bengal, Odisha, Jharkhand, Uttar Pradesh, Tripura, Maharashtra along with balances lying in the bank accounts of the company”, the probe agency officials said.
Apart from the immovable properties, balance amounts of Rs. 1.77 crore lying in 15 accounts maintained in the name of BIL & other associate companies have also been attached under PMLA, the officials added.
The central financial investigation agency move under PMLA come after the charge-sheet filed by Central Bureau of Investigation (CBI) against BIL & others for cheating common public by propagating and selling illegal schemes and by promising huge and unsustainable returns known as Ponzi Scheme.
The probing agency revealed that funds were fraudulently collected by selling illegal schemes through chain of agents located in Assam, West Bengal, Tripura, Odisha, Jharkhand and several other states.
These schemes were sold not only in the name of BIL, but also in the name of many other companies that were Vamshi Chemicals Limited, Nixcil Pharmaceuticals & Specialties Ltd and Basil Express Ltd.
Investigation also revealed that the funds collected through the schemes were illegally diverted by creating a web of shell companies and more than 60 private and public limited shell companies have been identified so far, the official statement said.
Scrutiny of accounts maintained by these companies lead to trail the proceeds of crime and 103 immovable properties including lands, flats, factories, hotels, amusement park, tea estate, office spaces, shops, registered in the name of sixteen different companies in Assam, West Bengal, Odisha, Jharkhand, Uttar Pradesh, Tripura, Maharashtra have been identified and provisionally attached.
Further investigation continued to trace more proceed of crime, the probe agency said. (UNI)