Photo Courtesy: India Today Group
Guwahati: The Enforcement Directorate seized 5.54 crore in assets linked to the Jeevan Suraksha Group. Officials targeted bank accounts and properties in Assam, Meghalaya, and West Bengal. Investigators found 48 frozen bank accounts holding 1.42 crore. They also locked down 22 properties worth 4.11 crore.
This move follows a long money laundering probe into the company and its directors. They allegedly lured nearly 700,000 investors into a pyramid scheme. The group sold fake recurring deposits and high-yield plans without any legal license. Records show they collected 403.63 crore from the public. They only paid back 132.72 crore to keep the fraud afloat.
The agency claims the group lacked any real business model. New deposits paid off older investors until the promoters eventually fled. The ED stated, "investor funds were diverted from company accounts to the personal accounts of the directors and their family members." The agency continues to track the remaining proceeds of crime.
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