New Delhi [India], September 26 : The Directorate of Enforcement (ED) has provisionally attached immovable assets valued at Rs 1.09 crore and bank balance amounting to Rs 26.52 lakh belonging to Sunheaven Agro India Ltd and its directors under Prevention of Money Laundering Act, 2002.
The enforcement agency had initiated the investigation on the basis of an FIR registered by CBI under various sections of IPC against Sunheaven Agro India Ltd and its directors.
Sunheaven Agro India Ltd, according to the ED, floated a Ponzi scheme that came out with different investment schemes under the garb of “Product Booking” and Fixed Deposit and Monthly Income Schemes, with the intention of earning quick and easy money.
ED said the Ponzi scheme was operated without obtaining permission/license from the regulatory authorities – SEBI or RBI.
Sunheaven Agro India Ltd with a “dishonest and fraudulent intention” to cheat the public, collected deposits from the investors in various schemes.
ED said the investigation revealed that the funds collected from the investors fraudulently by Sunheaven Agro India Ltd were being used for purchase of the properties and personal uses.
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