The Enforcement Directorate (ED) has attached assets worth Rs 200 crore under the provisions of Prevention of Money Laundering Act, 2002 (PMLA) in a Ponzi Scheme case. The attached assets include lands, flats, factories, hotels, amusement park, tea estate, office spaces, shops, registered in the name of sixteen different companies of ponzi firm Basil International Limited (BIL) in Assam, West Bengal, Odisha, Jharkhand, Uttar Pradesh, Tripura, Maharashtra along with balances lying in the bank accounts of the company.
ED had initiated investigation under PMLA on the basis of the Charge-sheet filed by CBI against BIL and others for cheating common public by propagating & selling illegal schemes and by promising huge and unsustainable returns (Ponzi Scheme), the agency said.
Investigation under the provisions of PMLA revealed that the funds were fraudulently collected by selling illegal schemes through chain of agents located in Assam, West Bengal, Tripura, Odisha, Jharkhand.