Gujarat: ED seizes assets worth over Rs 4.5 crore in stock market investment fraud case
AHMEDABAD: The Directorate of Enforcement (ED), Ahmedabad Zonal Office, has made a major seizure in connection with a fraudulent stock market investment scam that targeted common investors.
Acting under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, the ED recovered proceeds of crime worth several crores from the accused, Himanshu alias Pintu Bhavsar, and others.
During the search and seizure operations, the ED recovered silver bullion weighing 110 kg valued at approximately Rs 2.4 crore, gold bullion weighing around 1.296 kg worth Rs 1.7 crore, silver jewellery weighing about 39.7 kg, Indian currency amounting to Rs 38.8 lakh, and foreign currencies valued at approximately Rs 10.6 lakh.
Additionally, various property-related documents suspected of being linked to the proceeds of crime were also seized.
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