Bhopal (Madhya Praesh): The Directorate of Enforcement (ED), Bhopal has provisionally attached 25 immovable properties worth Rs 2.98 crore in connection with the infamous double money scam that took place in Balaghat, officials said on Saturday.
The action was taken under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, following an investigation triggered by three FIRs registered at two police stations in Balaghat district. The FIRs were filed under various sections of the Banning of Unregulated Deposit Schemes (BUDS) Act, 2019 and the Indian Penal Code (IPC).
According to officials, the accused — Somendra Kankrayane, Pradeep Kankrayane, Tamesh Mansure and Rakesh Mansure — had lured innocent investors by promising to double their money in a short span of time. In some cases, they even issued post-dated cheques for the so-called maturity amount to gain trust of investors.
However, the accused failed to return the promised amounts, leading to filing of multiple FIRs. After chargesheets were filed by the police, the ED registered an Enforcement Case Information Report (ECIR) and began investigation under the PMLA.
The ED probe revealed that the accused collected money from investors either in cash or through direct deposits into the bank accounts of their proprietorship concern. These funds, now considered proceeds of crime, were then used to acquire immovable assets. The properties were found to be in the names of accused, their family members or agents working on their behalf.Further investigation is currently underway.
Double money trap
25 properties provisionally attached by ED
Rs 2.98 crore involved in the scam
Accused promised double returns, gave post-dated cheques
Assets bought using investors’ money, probe ongoing
