Newdelhi:18/7/19:The Enforcement Directorate, ED, has attached assets worth 200 crore rupees in a Ponzi Scheme case under the provisions of Prevention of Money Laundering Act.
The attached assets include lands, flats, factories, hotels and shops registered in the name of sixteen different companies of Basil International Limited in Assam, West Bengal, Odisha, Jharkhand, Uttar Pradesh, Tripura and Maharashtra.
In a statement, the ED said, it had initiated investigation on the basis of the Charge-sheet filed by CBI against the company for cheating common public by propagating and selling illegal schemes by promising huge and unsustainable returns.
The ED said, the investigation also revealed that the funds collected through the schemes were illegally diverted by creating a web of shell companies. More than 60 private and public
limited shell companies have been identified so far.
Apart from the immovable properties, balance amount of one crore 77 lakh lying in 15 accounts maintained in the name of Basil International Limited and other associate companies have also been attached.