08 April, Mumbai
The Enforcement Directorate (ED) has attached over Rs 101 crore worth of bank balance in connection with its money laundering probe in the Speak Asia online marketing scam case.
The central probe agency had registered a criminal case against the firm, its officials and few others in 2012 under the provisions of the Prevention of Money Laundering Act (PMLA).
The Mumbai Police had also filed a charge sheet in this case in 2013 and apart from ED, the Serious Frauds Investigation Office (SFIO), under the Corporate Affairs Ministry, had also investigated the case.
The Singapore-based firm is being probed by the ED and other agencies for allegedly defrauding about Rs 700 crore worth funds of investors.
The company is alleged to have duped over 24 lakh investors and the amount of scam has been pegged at Rs 2,276 crore.