ED registers money laundering case against Saradha group
In further trouble for the chit fund scam-hit Saradha group of Kolkata, the Enforcement Directorate has registered a money laundering case to probe the allegations of financial irregularities by numerous depositors against it.
New Delhi: In further trouble for the chit fund scam-hit Saradha group of Kolkata, the Enforcement Directorate (ED) has registered a money laundering case to probe the allegations of financial irregularities by numerous depositors against it.
The ED has registered a regular case under the provisions of the Prevention of Money Laundering Act (PMLA) at its Guwahati office as the Assam police has registered an FIR against the group after allegations were made by investors that they were duped of their hard earned money.
The group and its investments are already being probed by a host of agencies like the SEBI, Income Tax department and investigation units under the Ministry of Corporate Affairs.
"The agency is looking for proceeds of crime and the illegal funds which could have been laundered by the agents and promoters. The probe will be in close coordination with other investigative agencies and police," a source said.
The ED will also go through the FIRs registered by West Bengal police in this case.
The Saradha group has hit the headlines recently for allegedly defrauding thousands of depositors.
The ED, according to sources, will also go through the business and personal transactions of the Saradha group Chairman Sudipto Sen and his close associates and the business dealings of the groups` various investment schemes.