The Enforcement Directorate has attached assets worth over two crore rupees including shopping complexes of a Rajasthan and Gujarat based company in connection with a chit fund money laundering case.
Around 48 FIRs were registered by the State Police authorities under Prize Chit and Money Circulation Scheme (Banning) Act, against the company – Oro Trade Network India.
In Ed’s investigation, the agency has found that the company and its directors conspired and lured a number of people to invest in their schemes by promising high returns.
The company collected around 44 crore rupees in pursuance of criminal conspiracy, cheating and criminal breach of trust.
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