New Delhi: The Enforcement Directorate (ED) has provisionally attached immovable properties worth approximately ₹762.47 crore across Punjab, Haryana, Delhi, Maharashtra, and even Australia. The action is part of a money laundering probe involving M/s PACL Ltd., its directors, promoters, and associates, under the Prevention of Money Laundering Act (PMLA), 2002.
The ED initiated its investigation following an FIR by the Central Bureau of Investigation (CBI), New Delhi, registered under IPC Sections 120-B and 420. The FIR names PACL Ltd., PGF Ltd., late Nirmal Singh Bhangoo, and others for orchestrating massive fraudulent collective investment schemes. These deceptive schemes allegedly duped lakhs of unsuspecting investors, with around ₹48,000 crore misappropriated — all classified as proceeds of crime (POC).
According to the ED, the misappropriated funds were laundered through complex layers of transactions to obscure their origins. These illicit funds were then used to purchase 68 immovable properties in India and abroad, all in the names of Bhangoo, his family, and entities linked to PACL. The move was aimed at legitimising the illicit assets and disguising them as lawful property.
यह भी पढ़ें: PACL scam: ईडी ने PACL घोटाले में ₹762.47 करोड़ की संपत्तियां अटैच कीं, ऑस्ट्रेलिया तक फैला है मामला
Further investigation into the scam — considered one of India’s largest investment frauds — is underway.
