ED searches five locations in Rs 600 crore ponzi probe

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ED searches five locations in Rs 600 crore ponzi probe | Civic News

ED searches five locations in Rs 600 crore ponzi probe

28 Jul 2017 4:01 PM | General

546 Report

NEW DELHI: The ED today conducted searches at five locations in the country in connection with a money laundering ponzi case worth Rs 600 crore.

"The searches at 5 places across India are related to Kamal K Bakshi and A K Singh in relation to Uni Pay group ponzi scam. The total scam is over Rs 600 crore," the Enforcement Directorate said in a statement.

A senior official said the agency had registered a criminal FIR under the Prevention of Money Laundering Act (PMLA) based on a police FIR in the case. Further details are awaited.