New Delhi, 19 September (IANS) In a fresh action in a financial fraud case, ED recovered documents in discoveries in Delhi, Noida, Ghaziabad, Vaishali (Bihar), and Dehradun, and Dehradun cheated investors and collected an informal deposit of Rs 521 crore in 21 bank accounts against a company, an officer said.
The Directorate of Enforcement (ED), Ranchi Zonal Office conducted a search against Maxizone Touch Private on 16 September. Ltd. and its directors Chander Bhushan Singh and Priyanka Singh.
Chander Bhushan Singh and Priyanka Singh escaped with public money and for the last three years, they are deliberately developing law enforcement agencies, including Jharkhand, Rajasthan and Assam Police, Ed said.
Several campuses located in Delhi, Noida, Ghaziabad, Vaishali (Bihar), and Dehradun were discovered under the provisions of prevention of Money Laundering Act (PMLA), 2002.
The ED launched an investigation against the company and its directors on several FIRs registered by the police in Jharkhand, Bihar, Bihar, Uttar Pradesh, Rajasthan and Karnataka to cheat the public.
The ED investigation revealed that the accused wooed the general public with promises of high monthly returns and attractive referral benefits to a fraudulent multi-level marketing (MLM) scheme.
Through this modus operandi, he collected unauthorized deposits of more than Rs 521 crore in at least 21 bank accounts, making large -scale crime (POC) income.
The investigation indicates that the accused looted illegal money by obtaining several properties through benami transactions and converting deposits into cash.
The ED stated that to hide their identity and avoid arrest, criminals were found to use fake identity documents, including a pseudo -name ‘Deepak Singh’, and often changed their places.
During the search tasks, the ED, including important financial transactions and cash deal, details of Associates, Digital Evidence in the form of laptops and mobile phones, and a large number of real estate properties related to documents and compromises, assigned a significant financial transaction and cash deals, details of the associates, details of the associates, the details of the associates, the details of the Associates, the details of the Associates.
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RCH/PGH