Bhubaneswar: In a significant move, the Enforcement Directorate (ED) on Tuesday attached immovable properties of the Artha Tatwa (AT) Group CMD Pradeep Sethy and others having value of Rs 12.64 crore for duping investors in multi-crore chit fund scam under the Prevention of Money Laundering Act, 2002.
Notably, it was found by ED that mastermind of the ponzi scam Pradeep Sethy had collected money from the public in the guise of promising high return by floating attractive schemes. Subsequently, the investors’ money was laundered by investing in movable and immovable properties by Sethy.
Earlier, movable and immovable properties of AT Group and its associates to the tune of Rs 120.55 crores were attached by ED. Properties having value of Rs 133.19 crores have been attached so far.