ED attaches property worth Rs 34 lakh in PMLA case involving M/s Lompire and others

Ahmedabad, March 26 (IANS) The Enforcement Directorate (ED) has provisionally attached immovable property valued at Rs 34 lakh under the Prevention of Money Laundering Act (PMLA), 2002, in connection with an ongoing investigation against M/s Lompire and associated entities. This information was shared on Wednesday by the ED in a statement.

The ED’s investigation is based on an FIR registered by the Central Bureau of Investigation (CBI), Anti-Corruption Bureau (ACB), Gandhinagar, which alleges that M/s Lompire, M/s Invert Triangle, and their partners were involved in a criminal conspiracy, theft, cheating, forgery, and causing a wrongful loss of Rs 11.17 crore to Bank of India/Temple Tree Investment Private Limited. The accused individuals reportedly gained corresponding wrongful profits through these fraudulent activities, said the agency.

According to the ED statement, as part of the investigation, the agency analysed multiple bank accounts linked to the beneficiaries to trace the end use of funds that were fraudulently obtained by the suspects. The investigation revealed a significant financial trail and further solidified the charges of money laundering against the accused.

The ED has also conducted searches at 10 locations across Gujarat and Maharashtra, seizing assets including gold items valued at approximately Rs 8.90 lakh, cash worth Rs 1.83 lakh, and various incriminating documents and records. In addition to this, several bank accounts containing a total balance of around Rs 9.62 lakh have been frozen as part of the ongoing investigation.

This provisional attachment of assets marks a significant step in the ED’s efforts to crack down on financial fraud and money laundering. The ED is continuing its probe into the matter, and further legal actions are expected as the investigation progresses.

–IANS

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