New Delhi: The Enforcement Directorate (ED), which carried out searches at several premises in Odisha’s Berhampur in connection with a Rs 69-crore chit fund scam, seized Rs 84.20 lakh in cash and a luxury car.
A team from the Directorate of Enforcement, Bhubaneswar, raided four premises on Thursday as part of an investigation against the Green India Infra Projects Ltd and its related entities under the provisions of Prevention of Money Laundering Act (PMLA), 2002, an official said on Saturday.
The ED case is linked to FIR No. RC.11/S/2014 dated June 4, 2014, registered by CBI/SCB Kolkata against the Green India Infra Projects Ltd and its promoters.
Various group companies allegedly collected the money from hundreds of gullible investors and ultimately cheated them, reported IANS.
The amounts were collected in the promise of huge returns or to provide flats in ‘Green Paradise Project’. Ultimately, neither did the company return the invested amount nor did it allot flats to the investors.
On being asked about refunds of the advance amounts, the MD of the company threatened the investors.
The investigators found that the accused persons had laundered the Proceeds of Crime and invested the money in various immovable properties and other assets, ED said.
Sharing details of its action taken on Thursday, ED said unaccounted cash of Rs 84.20 lakh was found and seized. One Mercedes car, various incriminating documents including property papers of immovable properties and digital devices were also seized, the central probe agency said.