[aaykarbhavan] MGONEY LAUNDERIN

ED attaches bank accounts worth Rs1.63 crore

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MDT/PTI | 29/01/2013 12:08 PM |

The ED had registered a money laundering case last year against few persons involved in a money-doubling racket after investors filed a complaint with the police in Haryana

Chandigarh: The Enforcement Directorate (ED) has attached bank accounts worth Rs1.63 crore of some individuals allegedly involved in a racket which had duped a number of investors, reports PTI.

The ED authorities had registered a money laundering case last year against few persons after investors filed a complaint with the police in Haryana and other places.

The ED office in Chandigarh has jurisdiction to probe cases in Haryana.

"It was alleged that during 2009 that a company with offices at Bangalore and Chennai had lured several investors and the Directors of the company through their agents promised to double their invested money.

"The firms involved started online schemes and they have paid committed returns/payouts to the investors for one year but after sometime the companies have stopped paying the returns since September/October 2010," the ED said in its order.

The ED order added that "investigations conducted culminated in identification of proceeds of the crime to the tune of Rs1.63 crore lying in different bank accounts which have been provisionally attached under Provisions of Prevention of Money Laundering Act (PMLA)."

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