New Delhi [India], The Enforcement Directorate (ED) has attached movable and immovable properties worth Rs 38.33 crore at over half a dozen locations in Maharashtra and Goa in a multi-level marketing scam, the agency said on Wednesday.
ED's Nagpur unit has attached these properties located in Nagpur, Amravati, Akola and Margao districts besides other areas of Maharashtra and Goa in the alleged scam of Srisurya Investments (Sameer Joshi) under the Prevention of Money Laundering Act (PMLA), 2002 .
The properties were attached on 31 May. The attached assets include movable (fixed deposits) and immovable properties acquired by Sameer Joshi, his companies and his co-accused associates.
The ED conducted the investigation based on the First Information Report (FIR) filed by the Nagpur Police.The FIR, lodged under various sections of the Indian Penal Code, 1860, revealed that Joshi allegedly defrauded and implicated the public by promising exorbitant returns through schemes promoted by his Hindu Undivided Family (HUF), Srisurya Investments. , which was in line with the Vasankar Plan.
However, the ED said, Sameer Joshi, after luring the public by giving false assurances, defrauded investors with complete malice and ill intention and used public money to accumulate assets in the name of himself, his family members and business. . Institutions."
"Sameer Joshi also gave false and misleading advertisements about the benefits of the scheme."
According to the charge sheets filed by law enforcement agencies, a total of 1,267 investors were identified who were defrauded to the tune of approximately Rs 105.05 crore, which was determined as the gross proceeds of crime (POC) so far.In this case, the Securities and Exchange Board of India (SEBI) has also filed a prosecution complaint against Sameer Joshi under Section 24(1) of the SEBI Act, 1992.
During these investment activities, various commission agents were appointed by the Srisurya Group, the ED said, adding, "These commission agents accepted 3-7 per cent commission on investments made by investors."
Further, with the intention of deceiving new and genuine investors and making them invest in various investment schemes launched by Srisurya Group, the co-accused commission agents organized "Investors Meet" to collect maximum investments.
The federal agency said, “A total of 25 such agents were identified as co-accused in the supplementary charge sheets filed by the LEA and the properties acquired by them from the proceeds of crime (POC) have also been attached by the ED."
ED's Nagpur unit has attached these properties located in Nagpur, Amravati, Akola and Margao districts besides other areas of Maharashtra and Goa in the alleged scam of Srisurya Investments (Sameer Joshi) under the Prevention of Money Laundering Act (PMLA), 2002 .
The properties were attached on 31 May. The attached assets include movable (fixed deposits) and immovable properties acquired by Sameer Joshi, his companies and his co-accused associates.
The ED conducted the investigation based on the First Information Report (FIR) filed by the Nagpur Police.The FIR, lodged under various sections of the Indian Penal Code, 1860, revealed that Joshi allegedly defrauded and implicated the public by promising exorbitant returns through schemes promoted by his Hindu Undivided Family (HUF), Srisurya Investments. , which was in line with the Vasankar Plan.
However, the ED said, Sameer Joshi, after luring the public by giving false assurances, defrauded investors with complete malice and ill intention and used public money to accumulate assets in the name of himself, his family members and business. . Institutions."
"Sameer Joshi also gave false and misleading advertisements about the benefits of the scheme."
According to the charge sheets filed by law enforcement agencies, a total of 1,267 investors were identified who were defrauded to the tune of approximately Rs 105.05 crore, which was determined as the gross proceeds of crime (POC) so far.In this case, the Securities and Exchange Board of India (SEBI) has also filed a prosecution complaint against Sameer Joshi under Section 24(1) of the SEBI Act, 1992.
During these investment activities, various commission agents were appointed by the Srisurya Group, the ED said, adding, "These commission agents accepted 3-7 per cent commission on investments made by investors."
Further, with the intention of deceiving new and genuine investors and making them invest in various investment schemes launched by Srisurya Group, the co-accused commission agents organized "Investors Meet" to collect maximum investments.
The federal agency said, “A total of 25 such agents were identified as co-accused in the supplementary charge sheets filed by the LEA and the properties acquired by them from the proceeds of crime (POC) have also been attached by the ED."
