The Enforcement Directorate (ED) has taken possession of 11 immovable properties worth Rs. 1.01 crore belonging to Jharkhand-based DJN Jewellers Pvt Ltd.
The agency took possession of these assets on Wednesday, the ED said on Thursday, adding the properties are in the form of flat, shop and plots situated at Ranchi, Latehar and Garhwa district in Jharkhand.
DJN Jewellers is represented through Jeetendra Mohan Sinha (CMD of DJN Group), Vipin Kumar Sinha, Ram Kishun Thakur and Vishal Kumar Sinha.
The federal agency had earlier attached assets worth Rs 1.66 crore on December 12, 2019, which was duly confirmed by the Adjudicating Authority under Prevention of Money Laundering Act (PMLA), 2002 on July 29 this year.
The ED initiated money laundering investigation on the basis of FIR and charge sheet filed by Ranchi Police against Jeetendra Mohan Sinha and others.
Investigation conducted by ED has revealed that the DJN Commodities was registered with MCX, Mumbai under proprietorship of Vishal Kumar Sinha. He conspired with other proprietors and directors thereof to cheat the investors and developed software in the name DJN Commodities for conducting offline trading.
ED said that 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 accused persons indulged in money circulation activity and represented before the depositors and investors in a fraudulent manner stating that the company was doing online trading with their deposit money," said the ED.
The accused persons, the agency further said, in pursuance of their criminal conspiracy got indulged in creating ingenious scheme of recurring deposits in jewellery shop to dupe the innocent investors and depositors and to rob their hard earned money.
( With inputs from ANI )
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