ED Raids in Karnataka: Enforcement Directorate Searches Five Locations in Bengaluru, Mandya in Ponzi Scheme Fraud Case
"ED has conducted searches on 27.6.2023 at 5 locations of Bengaluru/Mandya (Karnataka) belonging to M/s Hindustan Infracon India Ltd & related persons in a Ponzi Scheme fraud case. During the searches, various incriminating documents & records of cash transactions were seized", said the ED, on Saturday.
Bengaluru, July 1: The Enforcement Directorate (ED), on Tuesday conducted searches at 5 locations in the capital, Bengaluru and the Mandya district, according to the ED. The ED said the locations belonged to Hindustan Infracon India Limited and related persons. The search was conducted in connection with a Ponzi fraud scheme case. Hindustan Infracon India Ltd Faces PMLA Probe in Rs 199 Crore Ponzi Scheme Fraud Case.
"ED has conducted searches on 27.6.2023 at 5 locations of Bengaluru/Mandya (Karnataka) belonging to M/s Hindustan Infracon India Ltd & related persons in a Ponzi Scheme fraud case. During the searches, various incriminating documents & records of cash transactions were seized", said the ED, on Saturday. ED Summons Trinamool Student Leader Saayoni Again.
A Ponzi scheme fraud tricks investors into making huge investments by promising them massive profits.
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