Aug 16, 07:30 AM

ED Provisions ₹678.48 Crore Assets from Avantha Group, Seizes ₹2,215 Crore, and Arrests Four in Fraud Investigations

The Enforcement Directorate (ED) has been actively conducting investigations into multiple cases of alleged financial fraud. From August 12 to August 14, the ED's Nagpur sub-zonal office executed search operations at 14 official and residential premises across Nagpur, Kolkata, and Vishakhapatnam as part of a broader money laundering investigation. The agency has provisionally attached immovable properties valued at approximately ₹678.48 crore belonging to the Avantha Group, which is owned by businessman Gautam Thapar. Additionally, the ED has announced plans to distribute seized properties worth ₹2,215 crore to defrauded buyers. In a separate case, the Guwahati Zonal Office has provisionally attached assets worth ₹29.25 crore under the Prevention of Money Laundering Act (PMLA), 2002, related to a fraudulent investment website, Pearlvine International. Furthermore, the ED has arrested four individuals connected to an alleged scam involving an online gaming application, “Fiewin,” purportedly operated by Chinese nationals in collaboration with Indian accomplices.

#Enforcement Directorate #ED #Nagpur #Kolkata #Vishakhapatnam #Avantha Group #Gautam Thapar #Guwahati Zonal Office #PMLA #Pearlvine International #Chinese #Indian

Written with ChatGPT (GPT-4o mini).

ED Provisions ₹678.48 Crore Assets from Avantha Group, Seizes ₹2,215 Crore, and Arrests Four in Fraud Investigations

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