The Directorate of Enforcement (ED) has searched 16 premises across Mumbai, Chennai and Delhi covering office and residential premises of a few firms and their promoters under the Prevention of Money Laundering Act, 2002.
They are Securekloud Technologies Limited, Pro Fin Capital Services Limited, Quantum Global Securities Limited (QGSL), Unity Global Financial Services Pvt Limited, and Desert River Capital Pvt Ltd.
In this matter, the searches conducted led to the seizure of Rs 1. 04 crore in cash, gold and diamond jewellery, the identification of immovable properties of more than Rs 30 crore and other movable assets in various DEMAT accounts as well as the seizure of incriminating documents and digital evidence.
The agency has initiated a money laundering investigation on the basis of an FIR filed on February 02, 2019, which was filed by Suresh Venkatachari, the promoter and CEO of Securekloud Technologies Limited.
PMLA investigation revealed that the directors and beneficial owners of these share brokerage and financial services companies have transferred the shares worth Rs.160 crore off-market and subsequently sold the same to generate huge proceeds of crime, the agency said in a statement on Friday.
“The investigation also revealed that the complaint lodged by the Promoter of STL was misleading as he and his CFO are involved in the larger conspiracy of the cheating public by way of inflating the books of the company, diverting funds of the company to the unrelated business activities of the companies having stakes of CFO and CEO of STL (Securekloud),” it added.