The Enforcement Directorate, ED, has filed a criminal case under the Prevention of Money Laundering Act in a court at Bhubaneswar against Managing Director of Seashore Group of companies and his brother. <br/><br/>The Managing Director who is presently in judicial custody, was primarily involved in illegal collection of deposits of about five hundred crore rupees from the public with the false promise of high returns.<br/><br/>The Enforcement agency said, the accused had created as many as 21 shell companies and 13 multipurpose co-operative societies for laundering such public deposits. He had also issued preferential shares showing the laundered money as the capital of one such shell company Seashore Securities Limited . The ED has already attached property worth 242 crore rupees of Seashore group in 2014-15.