In a major move the Enforcement Directorate of (ED) on Thursday took possession of 11 immovable properties of DJN Jewellers Pvt. Ltd and its proprietors and office bearers in a chit fund case.
The ED attached properties above Rs one crore registered in the name of proprietors namely Vipin Kumar, Jeetendra Mohan, Ram Kishun Thakur and Vishal Kumar Sinha in the form of flat, shop and plots situated in Ranchi, Latehar and Garhwa.
In this case, ED had earlier attached movable and immovable properties worth Rs 1.66 crore by issuing a Provisional Attachment Order under Prevention of Money Laundering Act, 2002 (PMLA) in December 2019 and the same was confirmed by the Adjudicating Authority under PMLA in July this year.
The ED initiated investigation under the provisions of PMLA on the basis of FIR (220/2016) lodged by Ranchi police at Lalpur police station under sections 120-B, 420, 467, 468, 471 and 406 of IPC against Jeetendra Mohan Sinha, Vishal Kumar Sinha, Prasant Kumar Sinha and Evatoli Santosh. After investigation the police submitted a chargesheet.
Investigation by ED revealed that the DJN Commodities was registered with MCX, Mumbai under proprietorship of Vishal Kumar Sinha. He conspired with other proprietors/directors thereof to cheat the investors and developed software in the name DJN Commodities for conducting offline trading. DJN Commodities was collecting public deposits offline in the name of conducting online trading with the promise to offer returns at a high rate of interest per month. The accused persons indulged in money circulation activity and represented before the depositors/investors in a fraudulent manner stating that the company was doing online trading with their deposit money.
The accused persons in pursuance of their criminal conspiracy got indulged in creating ingenious schemes of recurring deposits in jewellery shops to dupe the innocent investors/depositors and to rob their hard earned money.