Ponzi scheme case: ED attaches assets worth Rs 2.80 cr in Bhilwara

The Directorate of Enforcement (ED) has attached houses, agricultural lands and jewellery totaling to Rs 2.80 crore belonging to Abhinav Gold International Marketing Pvt. Ltd. based in Bhilwara, Rajasthan and its directors under Prevention of Money Laundering Act (PMLA) in a Ponzi scheme case.

ED in a statement said that the agency initiated an investigation under PMLA on the basis of FIR registered by Bhilwara Police against Anil Birla, Murlidhar Birla, directors of Abhinav Gold International Marketing Pvt. Ltd and others under relevant sections of IPC and Prize Chit and Money Circulation Scheme (Banning) Act, 1978.

Further, 14 FIRs were registered by Rajasthan Police and Crime Branch, Surat, Gujrat against Abhinav Gold International Marketing Pvt. Ltd. and its directors Anil Birla, Murlidhar Birla and others, ED said.

The investigation conducted by ED under PMLA revealed that the directors of Abhinav Gold International Marketing Pvt. Ltd and others have collected crores of rupees from the public/investors during the period from March 14, 2010 to March 26, 2012.

"They have paid a negligible amount through cheques to the public/investors. The illegally collected amount was deposited in various bank accounts of Abhinav Gold International Marketing Pvt. Ltd and its directors," ED said.

These amounts were further invested in immovable and movable properties.

"On identification of these assets totaling to Rs 2.80 crore were held in the name of Abhinav Gold International Marketing Pvt. Ltd and its directors, a Provisional Attachment Order has been issued under PMLA," ED stated.

Further investigation is in progress, ED said.