Enforcement Directorate (ED) has arrested an agent of a Chandigarh-based company and seized assets worth 4.18 crore rupees in connection with a money laundering probe of 600 crore rupees ponzi scam case. The absconding agent has been arrested under the Prevention of Money Laundering Act and was produced in a Chandigarh court which sent him to 14 days of custody. The ED had earlier conducted searches in Delhi, Gurugram, Faridabad, Ambala and Ghazipur in this case.
The case pertains to thousands of investors who were systematically lured and cheated to the tune of more than 600 crore rupees by floating ponzi or pyramid schemes assuring exorbitant returns. ED said, the alleged mastermind of the scheme is hiding in Malaysia.
