BENGALURU: The Directorate of Enforcement (ED) has issued a Provisional Attachment Order (PAO) under the Prevention of Money Laundering Act (PMLA), 2002 to attach assets worth Rs 8.41 crore in the Ajmera Ponzi scheme scam.
"The attached assets are in the form of two immovable properties, which include an agricultural land and a residential plot, and 14 movable properties including 13 bank accounts and one Demat account, which are in the name of the Ajmera Groups, its partners and others," said the ED.
The agency added that the investigation conducted under the PMLA revealed that "Ajmera Groups had illegally collected deposits amounting to Rs 256.06 crore by luring gullible investors with a promise of higher rate of interest - of up to 20 per cent per month. Such a high rate of interest was not possible in any prudent way and the accused Ajmera Groups failed to return the amount of Rs 29.17 crore to the depositors. The illegally collected amount was deposited in various bank accounts," stated the ED.
Investigations also revealed that these amounts were embezzled and transferred to various unrelated accounts of Ajmera Groups or the depositors. "These amounts were further invested in immovable and movable properties. On identification of these assets worth Rs 8.41 crore held in in the name of Ajmera Groups, a Provisional Attachment Order has been issued under the PMLA," the Central revenue intelligence and enforcement agency added.
The ED had initiated the investigation under PMLA on the basis of an FIR at Jayanagar police station in 2018 after an investor filed a complaint against the company for not returning his deposits.