ED attaches Rs 757 crore worth assets of Amway India
New Delhi Apr 18 PTI Assets worth over Rs 757 crore belonging to multi-level marketing MLM scheme promoting company Amway India have been attached under the anti-money laundering law the Enforcement Directorate said on MondayThe provisionally attached properties of Amway India Enterprises Pvt Ltd include land and factory building at Dindigul district in Tamil Nadu plant and machineries vehicles bank accounts and fixed deposits it said in a statementOut of the total Rs 75777 crore of assets attached under the Prevention of Money Laundering Act PMLA immovable and movable properties are worth Rs 41183 crore while the rest are bank balances of Rs 34594 crore kept in 36 accounts belonging to Amway it saidThe federal agency accused the company of running a multi-level marketing scam where prices of most of the products offered by the company were exorbitant as compared to the alternative popular products of reputed manufacturers available in the open market PTI NES DV DV
New Delhi Apr 18 PTI Assets worth over Rs 757 crore belonging to multi-level marketing MLM scheme promoting company Amway India have been attached under the anti-money laundering law the Enforcement Directorate said on MondayThe provisionally attached properties of Amway India Enterprises Pvt Ltd include land and factory building at Dindigul district in Tamil Nadu plant and machineries vehicles bank accounts and fixed deposits it said in a statementOut of the total Rs 75777 crore of assets attached under the Prevention of Money Laundering Act PMLA immovable and movable properties are worth Rs 41183 crore while the rest are bank balances of Rs 34594 crore kept in 36 accounts belonging to Amway it saidThe federal agency accused the company of running a multi-level marketing scam where prices of most of the products offered by the company were exorbitant as compared to the alternative popular products of reputed manufacturers available in the open market PTI NES DV DV
