New Delhi, March 24 (IANS) The Enforcement Directorate (ED) has attached assets worth over Rs 35.84 crore of two private companies running ponzi schemes in Chennai and Odisha, an official said.
The move was part of the ED's crack down against private companies running ponzi schemes in different states.
The economic law enforcement agency took the step under the Prevention of Money Laundering Act on Thursday, it said.
Of the total attachment, assets worth Rs 35.55 crore belong to Chennai-based RMP Infotech and of Rs 29.45 lakh to Rajasthan's Jaipur-based Many Mantra Marketing Private Limited, operating in Odisha.
"ED attaches assets worth Rs 35.55 Crore under PMLA of RMP Infotech and Rs 29.45 lakh of Many Mantra Marketing," an Enforcement Directorate official told IANS.
The official said that RMP Infotech and Many Mantra Marketing have been running their ponzi schemes business in Chennai and Odisha, respectively.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.
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