The Enforcement Directorate has ordered freezing of 12 bank accounts holding deposits of Rs 519.59 crore in connection with its PMlA probe in the alleged Rs 3,700 crore Noida ponzi scam that cheated seven lakh people of their investment.
The ED probe has revealed that the accused company, Ablaze Info Solutions, was registered as a software development firm. “Investigation have revealed that Ablaze Info Solutions pvt ltd had declared their objective as software development and technical business. However financial transactions indicated a typical ponzi scheme.”
Widening its probe, the ED has also come across a bank account of the firm, where 19 lakh credit entries totalling Rs 800 crore have been made in a span of just nine months.