Panaji, 3 October (IANS) ED attached two flats, FD and equity shares in a fresh action of Rs 61.53 lakhs, which is associated with a fake investment plan, which was called by Conmen to submerge thousands of Goa and Gujarat investors worth more than Rs 9.33 crore.
The official said in a statement that assets related to Gohil Jakumar and other affiliated persons were seized under the provisions of prevention of the Money Laundering Act (PMLA), 2002.
The Enforcement Directorate (ED) launched an investigation in the case after the registration of an FIR by the Economic Offenses Cell, the Economic Offenses Cell against Jayakumar and others under various sections of IPC, 1860.
According to the FIR and charge sheet, Jayakumar and his colleagues orkstrated the fraud fake investment schemes, through which the public was denied more than Rs 9.33 crore.
The ED investigation has revealed that Jakumar, working through the unregistered unit M/S Rangeteta enterprises, near various offices in Goa and Gujarat, promised up to 20 per cent per month and pleaded in public investments.
Investor funds were collected directly from more than 2,500 unheard investors in individual bank accounts of Zakumar and his agents.
The plan served as a Ponzi structure and later collapsed in April-May 2022, when the outflow of withdrawals exceeded the fresh flow.
It has been established that the Crime of Crime (POC) was not deployed in any legitimate business and was incorrectly done for personal enrichment, including the purchase of immovable properties, personal investment, an extraordinary lifestyle financing and meeting other personal expenses, said Ed.
In July 2022, the Goa police claimed that it had seized Zakumar’s laptop and to reach the property details to Rs 86 lakh. These assets included gold jewelery worth Rs 75 lakh and more than Rs 11 lakh.
The police claimed that the accused, at one time, bought the old currency notes out of circulation and sold them on premium when there was a high demand for notes.
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RCH/UK