NEW DELHI: The Enforcement Directorate on Thursday said it has attached properties totalling Rs 200 crore of different companies of the Basil International Ltd in several states in its probe into a ponzi scheme case.
In a statement, the agency said: “The ED has attached assets to the tune of Rs 200 crore under the provisions of Prevention of Money Laundering Act in a ponzi scheme case.”
The agency said the attached assets include lands, flats, factories, hotels, amusement park, tea estate, office spaces, shops, registered in the name of 16 companies of BIL in Assam, West Bengal, Odisha, Jharkhand, Uttar Pradesh, Tripura and Maharashtra along with balances lying in the company’s bank accounts.
The ED has registered a case of money laundering on the basis of a chargesheet filed by the CBI against BIL and others for cheating common public by propagating and selling illegal schemes and by promising huge and unsustainable returns.
The agency said it was found that the funds were fraudulently collected by selling illegal schemes through chain of agents in Assam, West Bengal, Tripura, Odisha, Jharkhand and several other states.
These schemes were sold not only in the name of BIL but also in the name of other companies like Vamshi Chemicals Ltd, Nixcil Pharmaceuticals and Specialties Ltd. and Basil Express Ltd.
The agency aid that funds collected through the schemes were illegally diverted by creating a web of shell companies. It said that more than 60 private and public limited shell companies had been identified so far.
A scrutiny of the accounts maintained by these companies lead to a trail in the proceeds of the crime.