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ED attaches 8.82-crore assets of Noida-based firm
A Noida-based multi-level marketing firm's assets worth over Rs 8 crore have been attached in connection with an alleged online ponzi fraud case, the federal agency said on Thursday.
New Delhi : A Noida-based multi-level marketing firm's assets worth over Rs 8 crore have been attached in connection with an alleged online ponzi fraud case, the federal agency said on Thursday.
A provisional order under the Prevention of Money Laundering Act (PMLA) has been issued by the Enforcement Directorate against the company-- Webwork Trade Link Pvt Ltd. The case dates back to 2017 when Noida Police had filed an FIR against the firm and its directors Anurag Garg, Sandesh Verma and others for allegedly perpetrating an online fraud and cheating gullible depositors.
The ED subsequently took cognisance of this police criminal compliant to file a case under the PMLA. "The attachment consists of fixed deposits, mutual funds, balances in savings and current accounts of entities who had received money on account of selling the immovable properties and ornaments or providing services but due to the business shutting down and consequent fraud cases against the company, these funds remained with the beneficiaries," the agency said in a statement. The total value of the attached assets as part of the latest order is Rs 8.82 crore.
