ED searches five locations in Rs 600 crore ponzi probe

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Updated: July 28, 2017 3:31:34 PM

Enforcement Directorate, ponzi case, money laundering, money laundering case, Rs 600 money laundering case, ponzi case Rs 600 croreA senior official said the agency had registered a criminal FIR under the Prevention of Money Laundering Act (PMLA) based on a police FIR in the case. (Source: IE)

The ED today conducted searches at five locations in the country in connection with a money laundering ponzi case worth Rs 600 crore. “The searches at 5 places across India are related to Kamal K Bakshi and A K Singh in relation to Uni Pay group ponzi scam. The total scam is over Rs 600 crore,” the Enforcement Directorate said in a statement.

A senior official said the agency had registered a criminal FIR under the Prevention of Money Laundering Act (PMLA) based on a police FIR in the case.

(Further details are awaited)

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