ED freezes 182 bank accounts and seizes over Rs 1 crore cash and six high-end cars in a Rs 2,000 crore multi-state chit-fund scam.
The Enforcement Directorate (ED) has frozen 182 bank accounts and seized over Rs 1 crore in cash and six high-end cars during a raid linked to a Rs 2,000 crore multi-state chit-fund scam, officials said. In a post on X, the ED said that its Bhubaneswar Zonal Office conducted the search operations under the Prevention of Money Laundering Act, 2002 (PMLA) on August 5 at five premises linked with Wellfare Buildings and Estates Pvt Ltd (WBEPL) and its directors at Visakhapatnam and Hyderabad in connection with the probe in the chit fund scam.
The raids were conducted on the premises of ex-Andhra Pradesh MLA Malla Vilaya Prasad, Varaha Ramakrishna Satya Sinivasa Rao Alla and others, it said on Tuesday.
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