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The Hindu
The Hindu
National
The Hindu Bureau

ED searches Hindustan Infracon India Limited premises, seizes documents related to property and investments

ED Bengaluru

The Directorate of Enforcement (ED) has searched five locations of Hindustan Infracon India Limited in Bengaluru and Mandya, and related persons in connection with a Ponzi scheme under the Prevention of Money Laundering Act (PMLA).

Earlier, ED had registered a case of money laundering based on an FIR registered in Vijayanagar police station in Bengaluru against Hindustan Infracon, its promoters and directors for cheating investors of ₹191.54 crore.

Investigation by the ED revealed that the promoters and directors of Hindustan Infracon lured prospective investors by offering high interest rates on various deposit schemes.

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