Ed raid in jhansi-bhopal: The Enforcement Directorate (ED) has taken major action in Loni Urban Multi-State Credit and Thrift Co-operative Society Scam and attached 12 immovable properties worth Rs 4.80 crore. These properties are located in Jhansi (Uttar Pradesh) and Bhopal (Madhya Pradesh) and they include land and buildings. The ED has taken this action under the Money Laundering Prevention Act (PMLA), 2002.
Bhaskar fell on infrakon and castle heights
The investigation of ED Lucknow found that companies named M/s Bhaskar Infracon LLP and M/S Castle Height used the money related to this scam to buy properties. For this reason, the ED has seized these properties.
What is Loni Urban Multi-State Co-operative Society Scam?
Loni Urban Multi-State Credit and Thrift Co-operative Society is accused of cheating people in the name of heavy investment. The society deposited crores of rupees by luring investors more interest and coarse returns, but later he started reluctant to return the money. When the investors lodged complaints, the investigation of the case started and gradually a rigging of crores of rupees came to light.
ED investigated Tej, action can be taken even further
The ED started the investigation in this case with the angle of money laundering. Initial investigation revealed that the scam money was used to buy properties in Jhansi and Bhopal. After this, the ED has temporarily attached these properties. The investigating agency can further confiscate more assets in this case and there may be arrests of the culprits.
Scam of crores by pretending to double money
In such co-operative society scams, people are generally cheated by giving lure to increase money rapidly. Investors are promised more interest rate from the bank and when they deposit a huge amount, either the money is not returned or the company suddenly stops.
Even before many big scams have come out
Many cases of co-operative society scams have been reported in India. In cases like Sahara India, Pearl Group, Adarsh ​​Credit Co-operative Society, the money of millions of investors has been submerged. Government and investigative agencies are constantly tightening these scams.
ED warning to investors
ED and other investigating agencies have appealed to investors to investigate the background and legal status of the company before making any investment. Avoid investing money in illegal or suspected investment schemes and immediately inform the police or ED.
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