The Enforcement Directorate (ED) has arrested the Managing Director of a Manipur-based company in a money laundering case linked to a Ponzi scheme through which 15,000 investors were duped of their investments to the tune of Rs 580 crore.
The ED conducted searches at eight different locations of Lamjingba Group of companies and its MD Sanasam Jacky Singh in Gurugram (Haryana), Kolkata (West Bengal) Manipur in the money laundering case and recovered Rs 34 lakh cash and various incriminating documents such as copies of property documents, list of investors, details of funds collected from the investors and foreign investments, the agency said in a statement. The ED arrested Singh on Saturday and a court later sent him to ED custody. The money laundering probe relates to a "large-scale Ponzi scheme operated by Sanasam Jacky Singh…,” it said.
“These incriminating documents are related to generation of proceeds of crime, its further diversion, transfer and end use by the accused Sanasam Jacky Singh and others,” it said.
Two bank accounts of Singh, with a balance amount of Rs 1,34,01,989, were also frozen. Further, four immovable properties (commercial buildings/lands) situated in Gurugram and Imphal, were also frozen/seized. PNS