CHENNAI: The Enforcement Directorate (ED) has provisionally attached movable and immovable assets worth Rs 85.19 crore under the provisions of the Prevention of Money Laundering Act in connection with the probe into investment fraud by Dream Makers Global Private Limited (DMGPL).
In a separate case, the agency has restituted Rs 37.58 lakh to victims of an investment fraud involving Bluemax Capital Solutions Private Limited, as per a court order.
ED investigations into DMGPL were initiated on the basis of an FIR registered by the Economic Offences Wing (EOW), Coimbatore. According to the agency, the company and its key managerial persons collected money from thousands of investors by promising high daily returns and a doubling of investments in 150 days through purported software projects and packages. Returns were paid at first but defaults followed later.
The ED said around Rs 400 crore was credited to three principal bank accounts of the company. This money was allegedly routed through multiple accounts and used to buy properties, gold and other assets. The agency also found agents were paid heavy commissions.
The ED had carried out searches on premises linked to it and its associates on June 30.
In the Bluemax Capital Solutions case, the ED’s Madurai Sub-Zonal Office restituted Rs 37,57,697 to investors after an order by the special court in Madurai. The company had allegedly collected more than Rs 100 crore from the public by promising attractive returns on investments.