The Enforcement Directorate (ED) on Tuesday said it has conducted searches at eight locations in Gurugram, Kolkata and Manipur belonging to Sanasam Jacky Singh, Managing Director of Lamjingba Group of companies based in Manipur in a money laundering case linked to a Ponzi scheme.
Rs 34 lakh in cash and various incriminating documents such as copies of property documents, list of investors, details of funds collected from the investors, foreign investments etc have been recovered and seized, an official said.
“These incriminating documents are related to generation of proceeds of crime, its further diversion, transfer and end use by the accused Sanasam Jacky Singh and others. Two bank accounts of the accused Sanasam Jacky Singh, with a balance amount of Rs 1,34,01,989 were also freezed,” the official said.
The ED said that apart from this four immovable properties (commercial buildings/lands) situated in Gurugram and Imphal, Manipur, were also seized.
Sanasam Jacky Singh was arrested on January 21 and remanded to ED custody by the court.
Earlier, the ED had initiated money laundering investigation against Singh and others, on the basis of seven FIRs registered by the Imphal West Police, Manipur under various sections of IPC, alleging that they had cheated more than 15000 investors in the Manipur State, misappropriated and siphoned off investors’ funds.
They had collected huge amounts of money to the tune of more than Rs 580 crore from the public with a promise of exorbitant returns. The Company closed its door on the investors from the 1st quarter of 2020 without returning the promised funds.
Further Investigation in the matter is on.