ED Seizes Assets Worth Rs 38.33 Crore in Maharashtra and Goa Scam
Highlights:
ED attaches assets worth Rs 38.33 crore in marketing scam
Assets located in parts of Maharashtra and Goa
Linked to accused Sameer Joshi and co-accused
The Enforcement Directorate (ED) has taken decisive action against assets worth Rs 38.33 crore in connection with a significant multi-level marketing (MLM) scam linked to M/s Shreesurya Investments. These assets, both movable and immovable, are spread across Nagpur, Amravati, Akola, and Madgaon districts in Maharashtra and Goa. The ED's probe, initiated following an FIR filed by Nagpur Police, focuses on Samir Joshi, the alleged mastermind behind the scam, along with his associates and companies.
Joshi stands accused of defrauding innocent individuals with promises of high returns through schemes similar to the Wasankar model. Despite attracting investors with false assurances, he purportedly misused their funds for personal enrichment, acquiring properties in his and his family members' names, as well as in his business entities.
According to ED's chargesheets, approximately 1,267 investors were defrauded of around Rs 105.05 crore. The Securities and Exchange Board of India (SEBI) has also taken legal action against Joshi under Section 24(1) of the law.
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