Staff Reporter
GUWAHATI: The sleuths of the Directorate of Enforcement (ED), Guwahati Zonal Office, seized 15 cars/SUVs from various parts of the state under the Prevention of Money Laundering Act, 2002, in a case related to an illegal Ponzi scheme.
The seizure was made in connection with a case of M/s Finxpert Trading Solutions OPC Pvt. Ltd. and others. The seized cars include high-end luxury cars like 3 Audi Q3 SUVs, 1 Audi A4 car, 2 Mahindra XUV 700 - top model; and 1 Mahindra Scorpio N - top model. These apart, 7 Hyundai i10 Grand/Nios and one Tata Tiago have also been seized.
ED initiated an investigation into several Ponzi schemes being run in Assam. Several FIRs have been registered by the Assam Police.
In one of the cases, M/s Finxpert Trading Solutions OPC Pvt. Ltd., alias Trading FX (OPC), was found to be engaged in an illegal Ponzi scheme where investments were being collected from unsuspecting persons by promising astronomical interest rates of up to 18 per cent per month. For this purpose, various agents were operating in Assam who were paid 3 per cent over and above the 18 per cent paid to the investor. The amounts were paid out of subsequent investments received, and after collecting huge amounts, payment of interest as well as the principal amount was completely stopped. So far, the amount collected in the aforesaid manner is approximately quantified to the tune of Rs. 258 crore.
As a part of modus operandi, the seized cars/SUVs, including luxury vehicles, were purchased out of Proceeds of Crime (POC) and gifted to the agents of Finexpert as per the amount of fraudulent investment garnered by them, and were largely publicised so as to fraudulently attract further investments and dupe the public at large.
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