ED seizes Rs 1.02 crore, deeds of 88 properties in Ponzi Scheme raids in Uttar Pradesh
The Enforcement Directorate (ED) in Lucknow on Wednesday seized an unexplained cash amounting to Rs 1.02 crore, sale deeds, and documents of 88 immovable properties, along with digital and electronic evidence during search operations in relation to a ponzi or multi-level marketing scheme linked to the Kalpataru Group of Companies.
ANI
Dec 19, 2024 23:18 IST
Lucknow (Uttar Pradesh) [India], December 19 (ANI): The Enforcement Directorate (ED) in Lucknow on Wednesday seized an unexplained cash amounting to Rs 1.02 crore, sale deeds, and documents of 88 immovable properties, along with digital and electronic evidence during search operations in relation to a ponzi or multi-level marketing scheme linked to the Kalpataru Group of Companies.
In a statement on X, the ED stated that it conducted the search operation in 16 locations across Agra, Mathura, and Noida in Uttar Pradesh, targeting Mithilesh Singh, wife of the late Jai Kishan Rana, and individuals associated with the Kalpataru Group of Companies.
"ED, Lucknow has conducted search operations on 18/12/2024 at 16 premises in Agra, Mathura and Noida, Uttar Pradesh of Mithilesh Singh wife of main accused late Jai Kishan Rana, his close associates, Chartered Accountants, brokers and agents namely Suman Prabha Sharma, Devender Garg, Harendra Tarkar, Ramveer Tarkar, Prakhar Garg, Shivam Agrawal and others in relation to a Ponzi scheme/MLM case floated by Kalpataru Group of Companies," the ED said on X.
"During the search operations, unexplained cash amounting to Rs. 1.02 Crore, sale deeds/documents of 88 immovable properties, digital/electronic evidence have been found and seized," it added. (ANI)
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