Crackdown on NSEL Scandal: ED Unveils New Chargesheet

The Enforcement Directorate has filed a new chargesheet in the NSEL-linked money laundering case. Filed against 19 broking entities, it accuses them of colluding with NSEL officials to defraud investors. The case, involving 94 accused, alleges illicit brokerage and falsified documents amounting to Rs 5,600 crore.

The Enforcement Directorate announced the filing of a new chargesheet on Wednesday in the high-profile National Spot Exchange Limited (NSEL) money laundering case.

Presented to a special Prevention of Money Laundering Act (PMLA) court in Mumbai on January 28, the chargesheet targets 19 broking entities and their directors. Accusations include collusion with NSEL officials to mislead investors into trading on the platform.

The agency has previously filed six chargesheets involving 94 accused and attached assets worth Rs 3,288 crore. The investigation revealed that broking firms misled clients with false assurances and engaged in illegal trade practices, resulting in an alleged criminal breach that defrauded around 13,000 investors of Rs 5,600 crore.

(With inputs from agencies.)