New Delhi, Jan. 26 -- The Enforcement Directorate (ED), Delhi Zonal Office on Monday said that they have attached 37 immovable properties valued at Rs. 1,986.48 crore, located in Ludhiana (Punjab) and Jaipur (Rajasthan) in connection with an on-going investigation into a large-scale financial fraud involving a collective investment scheme operated by PACL Ltd. and its related entities.
The ED case is based on an FIR lodged by the CBI.
'Investigation has revealed that the accused entities and individuals operated an illegal collective investment scheme, fraudulently mobilising more than Rs. 60,000 crore from lakhs of investors across India under the guise of sale and development of agricultural land. Investors were induced to invest throug...