New Delhi: The Enforcement Directorate has attached movable and immovable properties worth Rs 135.06 crore under the provisions of Prevention of Money Laundering Act (PMLA), 2002 in the matter of Adarsh Credit Co-operative Society Ltd and others, the agency said on Tuesday, reports Dynamite News.
ED's Jaipur unit attached these assets on December 9. In the case, ED had earlier attached properties amounting to Rs 2,075 crore have already been attached.
ED initiated investigation on the basis of FIRs registered by the Special Operation Group (SOG), Rajasthan Police wherein it is inter-alia alleged that the main accused Mukesh Modi and Rahul Modi colluded with a group of persons and associates who collected crores of rupees from the investors and members of the society which were then siphoned off by Adarsh Group of Companies and its directors, firms, LLPs (Limited Liability Partnerships) and thereby resulted in wrongful loss to the investors and corresponding wrongful gain for themselves.
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ED investigation revealed that Mukesh and other family members were having control over the society and its funds. "They lured the poor investors with further assurance of abnormal high return on their investment and accordingly funds in thousands of crores of rupees were collected.
It was found during investigation that the funds of the society were diverted by way of unsecured loans, incentives and ex-gratia payments to the family members of Mukesh serving in the society, Agency Commission to family firm, entering into loss share trading, real estate and other businesses of Mukesh, his family and associates," said the ED in a statement.
Investigation conducted revealed that Mukesh and his family members, associates and their companies, firms and LLPs had acquired Proceeds of Crime (POC) amounting to Rs 3,830.06 crore which were used by them in acquisition of immovable and movable properties.
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Further, the agency said a prosecution complaint and a supplementary complaint have been filed before the special court in Jaipur against 139 accused persons and entities and cognizance of the same have been taken by the court.
