NT Reporter
Panaji
A special court in North Goa has taken cognisance of the offence in a money laundering case against Krishan Kumar alias Vijay Kumar Jaiswal, his wife Rashmi Jaiswal and three companies. The court has adjourned the matter for arguments before charge on September 30.
Directorate of Enforcement (ED), Panaji zonal office, in July last year had filed a prosecution complaint (PC) against five accused, including Krishan Kumar, in connection with a money laundering case pertaining to investment scam. The accused had reportedly lured innocent investors from multiple states with a false promise of high returns and incentives, leading to an overall collection of around Rs 3 crore.
The case arises from the multiple FIRs registered by law enforcement agencies against Krishan Kumar alias Vijay Kumar Jaiswal alias Vijay Kishan Jaiswal and others in Goa, Delhi, and UP for offences under various sections of IPC, the Goa Protection of Interest of Depositors (Financial Establishments) Act, 1999, and the Prize Chits and Money Circulation Schemes (Banning) Act, out of which sections 420 and 120B of the IPC are scheduled offences under PMLA, ED said.
ED investigation revealed that the accused, acting in conspiracy, incorporated 3 companies namely Yudivo Marketing Private Limited, Yudivo Lifecare Private Limited and Yudivo Property and Profits Private Limited and floated fraudulent multi-level marketing (MLM) schemes under the guise of direct selling and investment plans.
According to the ED, investors of multiple states were lured with false promises of high returns and incentives, leading to an overall collection of approximately Rs 3 crore from the public at large.
Earlier, the ED had attached an immovable property pertaining to the accused persons valued at Rs 72 lakh, located at Noida, under the provisions of PMLA. This attachment was confirmed by the Adjudicating Authority under PMLA, ED said.
