The agency alleged that the companies cheated several people across the country. The raids were carried out in Tamil Nadu, Karnataka, Punjab and other places
The Enforcement Directorate (ED) has conducted raids at five places across the country on Friday in a money laundering case against Uni Pay Group for its involvement in the Rs 600 crore ponzi scam.
"The investigation is underway against the Uni Pay Group under various section of Prevention of Money Laundering Act (PMLA)," said a senior ED officer. The agency had filed an FIR following a police case.
"ED searches at five places across India including that of Kamal K Bakshi and AK Singh in relation to Uni Pay group ponzi scam which is over Rs 600 crore," the officer said.
The raids were conducted at the office and residential premises of the duo as they are accused of having higher ranks in the ponzi firm that lured thousands of innocent investors on the pretext of providing them attractive returns.
The agency alleged that the companies cheated several people across the country. The raids were carried out in Tamil Nadu, Karnataka, Punjab and other places.
The company was also prosecuted by Serious Fraud Investigation Office (SFIO) in march this year; thereafter a case on its recommendation was registered and further probed. The company has named all the companies pertaining to Unipay group.
In March 2017, the corporate affairs ministry ordered SFIO probe against 185 companies for alleged fraud in about last four years, of which West Bengal accounts for 135. Out of 185 companies, the CBI has registered 30 cases relating to chit fund and ponzi schemes in the state. The ED has also registered money laundering cases against the companies, including Unipay group.
BUSTED
- The raids were conducted at the office and residential premises of Kamal Bakshi and AK Singh, accused of having higher ranks in the ponzi firm that lured thousands of innocent investors on the pretext of providing them attractive returns.
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
 "ED raids")
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}