The Enforcement Directorate (ED) has attached assets valued at over&nbsp; 239 crore rupees of a firm linked to TMC MP K D Singh in connection with a money laundering probe into an alleged ponzi scam case. The ED said in a statement that it has issued a provisional order under the Prevention of Money Laundering Act (PMLA) for attaching properties situated at various places like Chandigarh, Panchkula, Shimla and&nbsp; also bank accounts in HDFC Bank against Ms Alchemist Infra Realty Ltd. <br />'' &nbsp;<br />'' The ED's probe against Singh and the firm&nbsp; dates back to September, 2016 when it filed a criminal case taking cognizance of a charge sheet filed by SEBI. It is alleged that the company launched an illegal collective investment scheme, also called a ponzi scheme, and mobilised funds of about over 1900 crore rupees&nbsp; from the public in the years preceding 2015. The firm allegedly launched the scheme without the approval of the SEBI and led to cheating of gullible investors.<br />''<br />
News On AIR | January 29, 2019 12:32 PM
Ponzi scam: ED attaches assets valued over Rs 239 cr linked to TMC MP