Enforcement Directorate Uncovers Major Assets in PACL Ponzi Scheme

The Enforcement Directorate (ED) has attached new properties worth over Rs 3,400 crore in its money laundering investigation against PACL, a Chandigarh-based entity implicated in a Rs 48,000 crore Ponzi scheme. The total attached assets in the case now amount to Rs 5,602 crore.

In a significant development, the Enforcement Directorate (ED) has attached properties valued at more than Rs 3,400 crore as a part of an ongoing money laundering investigation against PACL.

This Chandigarh-based company has been accused of orchestrating a massive Ponzi scheme, reportedly amassing Rs 48,000 crore through deceptive investment strategies. According to the ED, the properties are located in Punjab's Jalandhar and represent a fraction of the illicit profits.

The agency's latest action brings the total worth of attached assets to Rs 5,602 crore, comprising both domestic and international holdings. Furthermore, three chargesheets have been filed by the ED as they delve deeper into unravelling the complexities of this case.

(With inputs from agencies.)