Enforcement Directorate, Delhi Zonal Office has provisionally attached immovable properties valued at 762.47 crore rupees situated across Punjab, Haryana, Delhi, Maharashtra, and Australia in connection with an ongoing investigation.
The ED informed that the case pertains to large-scale fraudulent collective investment schemes by M/s. PACL that were structured to deceive and defraud investors. Through these deceptive schemes, M/s. PACL through its directors and others collected and misappropriated around 48 thousand crore rupees from unsuspecting investors.
The ED investigation revealed that the funds fraudulently collected from lakhs of gullible investors were systematically diverted and layered through multiple transactions to conceal their illicit origins. These tainted funds were ultimately utilized to acquire 68 immovable properties having current market value of 762.47 crores rupees.
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