300 bank accounts, 200 firms used to commit Saradha scam: ED

The Enforcement Directorate (ED) has unravelled a complex network of 338 bank accounts and over 200 fictitious companies used by the Saradha chit fund culprits to launder Rs 1,983 crore raised from investors duped in the Ponzi scheme.

A senior official confirmed that the latest ED report estimates that Rs 1,983 crore has been laundered in this case and has termed the amount as proceeds of crime as stipulated under the criminal provisions of the Prevention of Money Laundering Act ( PMLA). A formal charge sheet in the scam is expected to be filed next month.

Four first information reports have already been registered in the case after recording statements of Saradha Group chairman Sudipta Sen and his associates involved in the murky dealings. The names of several West Bengal politicians also came under scanner for alleged links with the Group.

The scam came to light last April after which Sen was arrested along with two others from Sonmarg, Jammu and Kashmir. Sen's son and wife were arrested recently from Kolkata by the ED. The agency has also attached assets worth Rs 140 crore of individuals and firms on money laundering charges.

The scam is now also being probed by the Central Bureau of Investigation following a recent direction of the Supreme Court.

The ED has already issued attachment orders under PMLA on all equity shares of all 224 companies of Saradha and large chunks of real estate in the name of Sen and his wife. As many as 390 bank accounts of the Group have been frozen. The ED has also issued a public advisory that no one should " transact" in these attached assets without seeking its permission.

Courtesy: Mail Today