ED Attaches Assets Worth Rs 15.25 Crore in Assam Money Laundering Case
Guwahati, Aug 8 (TNT): The Enforcement Directorate (ED), Guwahati Zonal Office, has provisionally attached bank balances, fixed deposits, a stock trading account, motor vehicles and cash worth approximately Rs 15.25 crore in a money laundering case linked to M/s GoMillions LLP and its promoters and associates.
The action was taken under provisions of the Prevention of Money Laundering Act (PMLA), 2002, in a case against Rishiraj Gogoi, Joy Modak and others, who are promoters and associates of GoMillions LLP, the ED said in a statement on Saturday.
The money laundering investigation was initiated on the basis of an FIR registered by the CBI, Anti-Corruption Branch, Guwahati, in connection with alleged violations of the Bharatiya Nyaya Sanhita, 2023 and the Banning of Unregulated Deposit Schemes Act, 2019.
According to the ED, the FIR alleged that Rishiraj Gogoi and Joy Modak, partners of GoMillions LLP, collected deposits from members of the public in Guwahati and adjoining districts of Assam through a product-based multi-level marketing enterprise styled “TradeBull”.
The accused allegedly promised investors a fixed daily return of 0.85 per cent and doubling of their investment within six months, without obtaining registration or authorisation from any regulator to collect public deposits, the agency said.
The ED investigation under the PMLA allegedly found that deposits were collected from thousands of members of the public through a dedicated online portal and mobile application.
Data recovered from the entity’s server reportedly revealed more than 25,410 unique investor identities, with an aggregate payment liability of approximately Rs 34.93 crore, the agency said.
The investigation further revealed that around Rs 63.41 crore was credited into the principal bank accounts of GoMillions LLP.
The ED alleged that these funds, treated as proceeds of crime, were subsequently layered through various entities, including M/s Rightway Infocom Pvt Ltd, M/s Carely Solutions Pvt Ltd and a partnership concern M/s Lotus Corporation, before being diverted into the personal accounts of promoters and their family members.
The agency said the alleged proceeds of crime were subsequently integrated into high-end motor vehicles, a stock market trading account, fixed deposits and unaccounted cash recovered from the possession of the main accused during the predicate investigation.
Accordingly, the ED has provisionally attached bank balances and fixed deposits of entities and individuals concerned, a stock trading account maintained with a stock-broking firm, three motor vehicles, including a Porsche and a Mercedes-Benz, and cash, aggregating approximately Rs 15.25 crore.
Further investigation is under progress, the ED added.
TNT TS
