New Delhi, June 1 (IANS) The ED attached 14 immovable properties, worth Rs 1,595.85 crore, belonging to Gian Sagar Educational & Charitable Trust and located at Ramnagar, Punjab, in connection with a Rs 48,000 crore Ponzi scheme of Pearl Agrotech, an official said on Monday. The attached 14 properties have been identified as having been acquired from investor funds, constituting Proceeds of Crime, the ED said.The Directorate of Enforcement (ED), Delhi Zonal Office, took the action under the …
Latest Ponzi scheme News & Updates
Shillong, May 9 (IANS) The Directorate of Enforcement, Shillong Sub-Zonal Office, has provisionally attached movable properties worth Rs 1.06 crore in connection with the “Global Media App” fraud case involving alleged large-scale cheating of investors through an online earning and investment scheme, officials said on Saturday. The Enforcement Directorate initiated the probe under the Prevention of Money Laundering Act, 2002, based on a First Information Report registered at Madanriting P…
Gandhinagar, May 7 (IANS) Investors have alleged large-scale cheating in a high-return investment scheme linked to Shoot Space Digital Pvt. Ltd., operating from Gujarat International Finance Tec-City (GIFT City), with complaints indicating that more than 33,000 people across multiple states may have been affected after promised returns reportedly stopped, officials said on Thursday. According to multiple investor complaints and preliminary police findings, the company allegedly promoted a scheme…
New Delhi, April 16 (IANS In fresh action in a Rs 500 crore ponzi scheme fraud, the ED searched seven premises across Delhi-NCR, Goa, Jaipur and Mumbai linked to 32nd Avenue Group and seized Rs 1.05 crore cash and jewellery items worth Rs 1.5 crore, an official said on Thursday. The search operation against the company’s promoter-directors, Anubhav Sharma and Dhruv Sharma, and others was conducted on April 13 and 14, the official said in a statement.The directors and promoters were using t…
Kolkata, March 3 (IANS) In fresh action in connection with the Sahara Prime City land case, the Enforcement Directorate (ED) raided multiple premises of the company and its officials in Odisha, Andhra Pradesh and Karnataka and seized electronic evidence, an official said on Tuesday. The ED’s Kolkata Zonal Office conducted the search operations on February 2 at Anantapur (Andhra Pradesh), Ballari (Karnataka), Bhubaneswar and Berhampur (Odisha), an ED statement said.Digital evidences such as Whats…
Ranchi, Feb 16 (IANS) The Enforcement Directorate’s Ranchi Zonal Office filed a chargesheet on Monday before the special court in Ranchi under the Prevention of Money Laundering Act (PMLA), against Maxizone Touch Private Limited and its directors, Chander Bhushan Singh and Priyanka. The case involves a large-scale multi-level marketing fraud that duped 16,927 investors across the country through a classic Ponzi scheme promising unrealistic lifelong monthly returns of 15 per cent, the ED said in …
New Delhi, Feb 4 (IANS) The Enforcement Directorate’s Jalandhar Zonal Office has provisionally attached movable properties in the form of four bank accounts of Crown Credit Cooperative Society Limited, amounting to approximately Rs 4.07 crore, in connection with a large-scale Ponzi scheme that duped thousands of depositors across Punjab, a statement of ED said. The attachment order was issued on February 4, 2026, under the Prevention of Money Laundering Act, 2002. The probe was initiated based o…
Hyderabad, Jan 31 (IANS) The Directorate of Enforcement (ED), Hyderabad Zonal Office, has filed a charge sheet before the PMLA Court at Rangareddy against M/s Metalloids Technologies Private Limited (MTPL), its Managing Director Jayant Biswas, and his wife Mousumi Biswas, an official statement said on Saturday.The court on January 28 took cognisance of the charge sheet filed under the provisions of the Prevention of Money Laundering Act.The ED initiated the probe based on multiple FIRs registere…
Shillong, Jan 21 (IANS) The Directorate of Enforcement (ED), Shillong Sub-Zonal Office, has filed a Supplementary Prosecution Complaint (SPC) against 13 accused persons, including alleged mastermind Neeraj Kumar Gupta, in connection with the Pearlvine International Ponzi scam involving proceeds of crime amounting to Rs 1,575 crore, officials said on Wednesday. According to an official release, the SPC was filed on January 16, before the Special Court under the Prevention of Money Laundering Act …