The Enforcement Directorate (ED) on Thursday filed a prosecution complaint against Unickon group and its promoters in an alleged money laundering case.
The money laundering complaint was filed in connection with a SEBI-related cheating and fraud case.
The prosecution complaint has been filed against Gajendra Nagpal, his wife Sonia Nagpal, Ram Mohan Gupta and their companies -- Unickon Securities Pvt Ltd, Unickon Fincap Pvt. Ltd, Unickon Financial Intermediaries Pvt Ltd., Unickon Real Estate Pvt. Ltd. and i360 Staffing and Training Solutions Private Limited.
The ED has also registered a similar complaint against Vikas Mallan, Sandeep Arora and Neeraj Grover, as well as the management personnel of Unickon Securities Pvt. Ltd.
The flagship company of Unickon group of companies, Unickon Securities Pvt. Ltd. (USPL) was also registered with the Securities & Exchange Board of India (SEBI) as a Stock Broker and Depository Participant of Central Depository Services Limited (CDSL).
From January 2014 onwards, an estimated 4,156 investors approached SEBI and filed complaints for non-receipt of their funds and securities. The subsequent SEBI inquiry pointed to several violations of the SEBI Act, rules and regulations.
Thereafter, the ED launched an investigation into this fraud -- the totality of which is estimated at Rs 88 crore -- on the investors' money and securities under the Prevention of Money Laundering Act, 2002.
The PMLA investigation revealed that under the command and control of Gajendra Nagpal, Ram Mohan Gupta and others, Unickon Securities Pvt. Ltd., illegally indulged in pledging the clients' securities to various banks and NBFCs for obtaining loans and funds.
The loans so obtained along with its clients' funds, were diverted, siphoned off and ultimately utilised for the benefit of its directors and Unickon group companies which were found to have been engaged in real estate and other business activities, the probe revealed.
The PMLA investigation also revealed that USPL, Gajendra Nagpal, his wife Sonia Nagpal, Ram Mohan Gupta, Vikas Mallan, Sandeep Arora and Neeraj Grover were also the alleged beneficiaries of the proceeds of crime.
The probe pegged the proceeds of crime at Rs. 30,14,77,028 -- identified in the form of scrips, balance, cash etc. It was, subsequently, confirmed by the adjudicating authority.
The Special Judge, Patiala Court, New Delhi, by an order dated November 18, took cognisance of the complaint.
( With inputs from ANI )
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