New Delhi: The Enforcement Directorate (ED) has attached over Rs 91 crore kept in a Singapore bank in connection with a money laundering probe in a Mumbai-based ponzi scam case.
The amount, which was attached under the provisions of the Prevention of Money Laundering Act (PMLA), pertains to the City Limousine chitfund case and a probe is underway against the Chairman of chitfund, Sayed M Masood, for floating illegal ponzi schemes by promising extraordinary returns.
Officials said the agency carried out the action with the help of their Singaporean counterparts and attached “Rs 91.3 crore in foreign currency in Singapore bank accounts”. The total seizure of assets in this case now totals to Rs 385 crore.
The agency had attached Rs 166 crore in Singapore last year and Rs 6 crore funds lying in a Swiss bank account in 2012 apart from few other such attachments in the past in this case.
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