The Enforcement Directorate (ED) in Bhopal has filed a chargesheet against Ajay Tidke and others regarding the Double Money scam in Balaghat district, Madhya Pradesh. This action follows the submission of a complaint to the Honble Special PMLA Court in Jabalpur on January 30. The ED’s investigation, initiated based on FIRs from Balaghat district, revealed that the accused operated a fraudulent scheme promising to double investments within a short period.
The probe disclosed that Ajay Tidke and associates ran an unregulated deposit scheme, luring the public with false assurances of doubling their money and guaranteed returns. Approximately Rs 1450 crore was collected from investors through this scheme. The ED’s Bhopal Zonal Office issued two “Provisional Attachment Orders,” attaching properties worth Rs 4.48 crore, including bank balances frozen under the BUDS Act, 2019, and IPC, 1860, due to their involvement in money laundering.
Cash amounting to Rs 11.89 crore, identified as proceeds of the scam, was seized from the accused’s premises. The investigation also uncovered 54 immovable properties acquired by the accused, demonstrating a deliberate concealment and integration of the proceeds of crime. The funds collected were diverted and laundered through multiple bank accounts, linking investor funds to properties acquired by the accused and their associates.
