Ponzi scam: ED attaches ₹239 crore

The Enforcement Directorate has attached assets worth ₹239.290000000 as part of the money-laundering probe against Alchemist Infra Realty Limited in connection with an alleged ponzi scheme involving ₹1,9000000000. According to the agencies, the properties are located in Chandigarh, Panchkula, Derabassi and SAS Nagar (Punjab) and in Shimla. The funds kept in at least two bank accounts have also been attached. The ED initiated an investigation on the basis of a prosecution complaint filed by the Securities and Exchange Board of India (SEBI) against the company and its directors in March 2016.