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National News

Dec 13, 2019

ED attaches Rs 10 crore assets of Bengaluru-based firm in alleged ponzi scam case

Enforcement Directorate, ED has attached assets worth over 10 crore rupees of a Bengaluru-based firm under the anti-money laundering law in connection with an alleged Islamic banking or halal investment ponzi scam case.

The accused firm is Ambidant Marketing Private Limited and its promoters and the case of alleged duping of a number of gullible investors had made headlines last year in Karnataka.

The agency said, the case pertains to allegations that the accused firm and its promoters were collecting investments from customers under various plans and Haj or Umrah plan in the name of Islamic banking or halal investment and offering huge returns to the extent of up to 15 per cent per month.

 ED said, the company was not authorised to collect such funds as it was neither registered with RBI nor with the SEBI under their collective investment scheme.

The attached immovable properties are in the form of land and residential flats in various part of Bengaluru. The value of immovable properties attached is nearly 9 crore rupees while movable properties are nearly 1.5 crore rupees have been attached.

The federal probe agency had taken over the investigation in the case on the basis of a Bengaluru Police FIR and a charge sheet filed by it in February this year.


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