The Enforcement Directorate (ED) has conducted search operations at multiple locations across Maharashtra and Gujarat, in relation to an ongoing money laundering investigation. The operations were carried out under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.
The search operations, which spanned across as many as 10 locations in the two states, led to the seizure of gold items valued at approximately Rs 8 lakh, cash amounting to Rs 1.83 lakh, and various incriminating materials. These materials are reportedly linked to M/S Lompire and others.
In addition to the aforementioned seizures, the ED officials also confiscated various incriminating materials and related bank accounts.
The investigation against the company was initiated by the ED following an FIR lodged by the Anti-Corruption Bureau of the Central Bureau of Investigation (CBI) in Gandhinagar. The FIR was filed under various sections of the Indian Penal Code (IPC) against unknown partners of M/s Lompire, unknown partners of M/s Invert Triangle, and others.
The companies in question stand accused of committing acts of criminal conspiracy, theft, cheating, and forgery, resulting in a wrongful loss of approximately Rs. 11.17 crore to the Bank of India and Temple Tree Investment Private Limited.
As part of its investigation, the probe agency has analysed numerous bank account statements of the beneficiaries to investigate the end use of the money received fraudulently by the accused person.
The ED has confirmed that further investigation into the matter is currently underway.
