ED takes possession of Jkhand companys assets in money laundering case
New Delhi Sep 23 PTI The Enforcement Directorate ED on Thursday said it has taken possession of assets worth Rs 101 crore of a Jharkhand-based jewellery firm in a money laundering probe linked to a ponzi caseThe agency had attached these properties in December 2019 and this provisional order was recently approved by the Adjudicating Authority as per the scheme of the Prevention of Money Laundering Act PMLAA total of 11 immovable properties worth Rs 101 crore belonging to DJN Jewellers Pvt Ltd — that is represented through CMD Jeetendra Mohan Sinha Vipin Kumar Sinha Ram Kishun Thakur and Vishal Kumar Sinha — have been taken possession of in a chit fund scam case the ED said in a statementThe properties are in the form of flats shops and plots located in state capital Ranchi and two other districts of Latehar and Garhwa DJN Commodities was registered with MCX Mumbai under proprietorship of Vishal Kumar Sinha He conspired with other proprietorsdirectors to cheat the investors and developed software in the name DJN Commodities for conducting offline trading DJN Commodities was collecting public deposits offline in the name of conducting online trading with the promise to offer return at high rate of interest per month the ED allegedThe accused it said indulged in money circulation activity and told depositorsinvestors that the company was doing online trading with their deposit money The accused created an ingenious scheme of recurring deposits in a jewellery shop to dupe the innocent investorsdepositors and to rob their hard earned money it claimed PTI NES TIR TIR
New Delhi Sep 23 PTI The Enforcement Directorate ED on Thursday said it has taken possession of assets worth Rs 101 crore of a Jharkhand-based jewellery firm in a money laundering probe linked to a ponzi caseThe agency had attached these properties in December 2019 and this provisional order was recently approved by the Adjudicating Authority as per the scheme of the Prevention of Money Laundering Act PMLAA total of 11 immovable properties worth Rs 101 crore belonging to DJN Jewellers Pvt Ltd — that is represented through CMD Jeetendra Mohan Sinha Vipin Kumar Sinha Ram Kishun Thakur and Vishal Kumar Sinha — have been taken possession of in a chit fund scam case the ED said in a statementThe properties are in the form of flats shops and plots located in state capital Ranchi and two other districts of Latehar and Garhwa DJN Commodities was registered with MCX Mumbai under proprietorship of Vishal Kumar Sinha He conspired with other proprietorsdirectors to cheat the investors and developed software in the name DJN Commodities for conducting offline trading DJN Commodities was collecting public deposits offline in the name of conducting online trading with the promise to offer return at high rate of interest per month the ED allegedThe accused it said indulged in money circulation activity and told depositorsinvestors that the company was doing online trading with their deposit money The accused created an ingenious scheme of recurring deposits in a jewellery shop to dupe the innocent investorsdepositors and to rob their hard earned money it claimed PTI NES TIR TIR
