New Delhi, January 24
The Enforcement Directorate (ED) today said it had arrested the managing director of a Manipur-based company under provisions of the Prevention of Money Laundering Act in a case linked to a ponzi scheme through which numerous investors were duped to the tune of Rs 580 crore.
The ED said it had seized Rs 34 lakh and froze bank deposits worth over Rs 1.34 crore following raids on multiple premises of Lamjingba Group of companies and its MD Sanasam Jacky Singh in Gurugram, Kolkata and Manipur recently. Singh was arrested on January 21 and a court later sent him to the ED custody, it said.
