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New Delhi, March 21 The Enforcement Directorate (ED) said on Monday that it has attached immovable properties worth Rs 20.16 crore of Injaz International represented by its partners Misbahuddin S. and Suhail Ahmed Shariff in connection with a PMLA case.The ED said that the accused acquired proceeds of crime and layered the same in the form of various immovable properties.The ED initiated a PMLA probe on the basis of an FIR registered by the police against Injaz International and its associated group under various sections of the Prize Chits and Money Circulation Schemes (Banning) Act, Indian Penal Code and Chit Funds Act.The proceeds of crime, in this case, is Rs 80.99 crore.The investigation by the ED revealed that Injaz International and its partners with a fraudulent intention collected funds from a large number of investors during 2015 to 2017 by projecting unrealistic returns against their investments and later duped them of such investments and never returned the hard-earned invested money of the common people.Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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