New Delhi, July 28 (IANS) The Enforcement Directorate (ED) on Friday conducted raids at five places across the country against Uni Pay Group for its involvement in the Rs 600 crore ponzi scam, an official said.
A probe is underway against the Uni Pay Group under Prevention of Money Laundering Act (PMLA). The ED had filed an FIR following a police case.
“ED searches at five places across India of Kamal K. Bakshi and A.K. Singh in relation to Uni Pay group ponzi scam. Total scam is over Rs 600 crore,” an ED official said.
The searches were conducted at the office and residential premises of Bakshi and Singh as they are accused of having higher ranks in the ponzi firm that lured thousands of innocent investors on the pretext of providing them attractive returns, the official said.