The Enforcement Directorate (ED) has attached assets worth Rs.365.94 crore under the anti-money laundering law in a probe linked to alleged embezzlement of funds by a cooperative society that duped about 20 lakh people in Rajasthan, the agency said on Friday.
The properties belong to Adarsh Group of companies, LLPs (limited liability partnership), Riddhi Siddhi Group of companies/firms, AOPs (association of persons) and others. The assets are in the form of agricultural, residential and commercial land parcels in Delhi, Haryana and Rajasthan, besides fixed deposits and bank balances.
Based on the findings so far, the ED has calculated the total proceeds of the alleged crime to be about Rs3,830 crore. Assets worth Rs 1,854.97 crore have been attached in the case till now.
Probe found, the ED alleged, that ''Mukesh Modi in collusion with his relatives Virendra Modi, Rahul Modi, Rohit Modi and associates including society officials, siphoned off depositors' funds from ACCSL by way of inter-linked fraudulent transactions.'' ''Mukesh Modi, his relatives and associates incorporated several companies/firms/LLPs for sole purpose of diverting funds from ACCSL to their real estate business by way of availing fraudulent loans,'' it alleged. Mukesh Modi also infused ''huge proceeds of crime in these companies as share capital from ACCSL,'' the agency alleged.
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