ED attaches Rs 150 cr worth property of Gold Quest International

Company charged with cheating the public, attachment effected under PMLA

The Enforcement Directorate, Chennai has attached properties worth Rs 150 crore belonging to Gold Quest International Chennai, under the Prevention of Money laundering Act, 2002 (PMLA), for cheating the public.

In a case of money circulation business and cheating the public, properties worth of over 150 crore of the company were attached under the provisions of the Act, an official statement said.

Based on various complaints, the Tamil Nadu police registered a case in 2009 against Gold Quest International Pvt. Ltd, Chennai for selling gold coins and other articles at exorbitant prices, stating they were limited edition products having numismatic values. Preliminary