Big action by ED in Annie Group 110 crore fraud case, properties worth Rs 7.30 crore attached in Lucknow-Delhi

The Enforcement Directorate (ED) has taken another major action in the case of fraud of Rs 110 crore from hundreds of people. ED’s Lucknow zonal office has temporarily attached properties worth Rs 7.30 crore of Annie Group of Companies and its associated entities. This action has been taken under the Prevention of Money Laundering Act (PMLA).

The attached assets include three immovable properties and a fixed deposit. These immovable properties are located in Lucknow, Delhi and Uttarkashi in Uttarakhand, which were registered in the name of Annie Bullion Industries Private Limited. With this attachment, the total property seized so far in the case has reached Rs 16.4 crore.

This is how the fraud of Rs 110 crore was carried out

This whole case started on the basis of several FIRs registered by Uttar Pradesh Police. Investigation revealed that Ajit Kumar Gupta, director of M/s Any Bullion Traders and its associate companies, along with his associates hatched a big conspiracy. He lured the general public with huge returns by investing money in various investment schemes.

People were assured that their money was completely safe. According to the ED investigation, around Rs 110 crore was collected from investors. This money was later routed through several companies and a society to hide the proceeds of crime.

Money laundering through shell companies and societies

ED, in its investigation, found that the money raised from investors was illegally diverted through various companies of ‘Ani Group’ and M/s I Vision Credit Co-operative Society. This society was also being controlled by the main accused Ajit Kumar Gupta. This money was later used to purchase properties in Lucknow, Delhi and Uttarakhand, which were shown in the name of Anee Bullion Industries Pvt Ltd.

Earlier, in the year 2023 also, while taking action in this case, ED had attached properties worth about Rs 9.1 crore of Ajit Kumar Gupta, his IFS wife Niharika Singh and Annie Group companies. ED officials say that further investigation in the case is still going on.